Miller Financial Services LLC Takes $580,000 Position in CBRE Group, Inc. (NYSE:CBRE)

Miller Financial Services LLC acquired a new stake in CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,420 shares of the financial services provider’s stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CBRE. FMR LLC grew its position in shares of CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after acquiring an additional 3,498,244 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of CBRE Group during the 4th quarter worth about $190,695,000. Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group during the 4th quarter worth about $175,978,000. Los Angeles Capital Management LLC lifted its stake in shares of CBRE Group by 1,499.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,059,960 shares of the financial services provider’s stock worth $139,162,000 after buying an additional 993,687 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after buying an additional 692,697 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

CBRE has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Raymond James cut shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $155.00 to $152.00 in a research note on Friday, January 24th. Citigroup raised their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Finally, Evercore ISI dropped their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

CBRE Group Price Performance

Shares of NYSE:CBRE opened at $125.77 on Tuesday. The firm has a 50 day moving average of $137.82 and a 200-day moving average of $131.03. The stock has a market capitalization of $37.74 billion, a PE ratio of 40.05 and a beta of 1.42. The company has a current ratio of 1.07, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. On average, equities research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.