194,216 Shares in CBRE Group Inc (CBRE) Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 194,216 shares of the financial services provider’s stock, valued at approximately $8,565,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of CBRE Group at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Loomis Sayles & Co. L P purchased a new stake in CBRE Group in the third quarter worth approximately $59,186,000. Kepos Capital LP purchased a new stake in CBRE Group in the third quarter worth approximately $6,221,000. Kornitzer Capital Management Inc. KS purchased a new stake in CBRE Group in the third quarter worth approximately $2,905,000. GAM Holding AG purchased a new stake in CBRE Group in the third quarter worth approximately $1,396,000. Finally, Allianz Asset Management GmbH purchased a new stake in CBRE Group in the third quarter worth approximately $8,134,000. Institutional investors own 94.34% of the company’s stock.
Shares of CBRE Group stock opened at $41.15 on Friday. The firm has a market cap of $14.23 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.78. CBRE Group Inc has a 1-year low of $38.05 and a 1-year high of $50.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.16.
In other news, Director Gerardo I. Lopez bought 5,000 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were bought at an average price of $42.41 per share, for a total transaction of $212,050.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.88% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on CBRE shares. Barclays lifted their price target on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. Bank of America dropped their price target on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Finally, ValuEngine cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. CBRE Group has a consensus rating of “Buy” and a consensus price target of $52.56.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/194216-shares-in-cbre-group-inc-cbre-acquired-by-british-columbia-investment-management-corp/2669481.html.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.
Featured Story: Why do earnings reports matter?
Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.