Envestnet Asset Management Inc. Buys 19,481 Shares of CBRE Group, Inc. $CBRE

Envestnet Asset Management Inc. lifted its stake in CBRE Group, Inc. (NYSE:CBRE) by 2.4% in the third quarter, HoldingsChannel.com reports. The fund owned 844,561 shares of the financial services provider’s stock after purchasing an additional 19,481 shares during the period. Envestnet Asset Management Inc.’s holdings in CBRE Group were worth $133,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in CBRE Group by 12.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 631,985 shares of the financial services provider’s stock worth $99,575,000 after purchasing an additional 70,670 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CBRE Group by 9.4% in the 3rd quarter. Principal Financial Group Inc. now owns 9,468,455 shares of the financial services provider’s stock worth $1,491,855,000 after buying an additional 809,796 shares during the last quarter. Donoghue Forlines LLC bought a new stake in shares of CBRE Group in the third quarter worth $2,104,000. KBC Group NV increased its position in CBRE Group by 4.4% during the second quarter. KBC Group NV now owns 248,956 shares of the financial services provider’s stock valued at $34,883,000 after acquiring an additional 10,438 shares during the last quarter. Finally, Atlantic Union Bankshares Corp increased its position in CBRE Group by 17.3% during the third quarter. Atlantic Union Bankshares Corp now owns 23,619 shares of the financial services provider’s stock valued at $3,721,000 after acquiring an additional 3,488 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CBRE. Barclays raised their target price on CBRE Group from $190.00 to $192.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $185.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. UBS Group upped their target price on shares of CBRE Group from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CBRE Group in a research report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $182.14.

CBRE Group Stock Performance

CBRE opened at $169.77 on Friday. The company has a 50 day simple moving average of $164.48 and a two-hundred day simple moving average of $159.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $50.52 billion, a P/E ratio of 41.92 and a beta of 1.34. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $173.05.

CBRE Group Profile

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.