Evercore Wealth Management LLC trimmed its position in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 987,081 shares of the financial services provider’s stock after selling 9,919 shares during the period. CBRE Group accounts for 2.1% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. Evercore Wealth Management LLC owned about 0.34% of CBRE Group worth $133,710,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CBRE. Norges Bank bought a new stake in CBRE Group during the fourth quarter valued at $643,405,000. Swedbank AB boosted its position in shares of CBRE Group by 119.6% during the 1st quarter. Swedbank AB now owns 2,571,280 shares of the financial services provider’s stock valued at $348,306,000 after acquiring an additional 1,400,452 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of CBRE Group during the third quarter worth about $190,648,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of CBRE Group by 5,115.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,017,355 shares of the financial services provider’s stock worth $163,581,000 after purchasing an additional 997,848 shares in the last quarter. Finally, XN LP bought a new position in shares of CBRE Group in the fourth quarter worth approximately $147,134,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.
CBRE Group Stock Performance
CBRE Group stock opened at $144.06 on Tuesday. The firm has a fifty day simple moving average of $134.63 and a two-hundred day simple moving average of $143.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. CBRE Group, Inc. has a twelve month low of $121.69 and a twelve month high of $174.27. The company has a market capitalization of $42.18 billion, a PE ratio of 32.82 and a beta of 1.20.
Insider Activity at CBRE Group
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group reissued a “buy” rating on shares of CBRE Group in a report on Wednesday, June 17th. Evercore set a $169.00 price objective on shares of CBRE Group in a research report on Tuesday, June 30th. Weiss Ratings downgraded shares of CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $178.86.
Read Our Latest Stock Analysis on CBRE Group
About CBRE Group
CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.
In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.
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