Heritage Wealth Management Inc. Purchases New Holdings in CBRE Group, Inc. (NYSE:CBRE)

Heritage Wealth Management Inc. purchased 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 Securities and Exchange Commission (SEC). The institutional investor purchased 1,565 shares of the financial services provider’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CBRE. FMR LLC boosted its holdings in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in CBRE Group during the 4th quarter worth approximately $190,695,000. Manning & Napier Advisors LLC bought a new position in CBRE Group during the 4th quarter worth approximately $175,978,000. Robeco Institutional Asset Management B.V. lifted its holdings in CBRE Group by 60.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after buying an additional 993,963 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in 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. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Evercore ISI reduced their target price on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Keefe, Bruyette & Woods increased their target price on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a report on Friday, February 14th. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Finally, Citigroup increased their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

CBRE Group Stock Up 1.5 %

CBRE opened at $141.89 on Friday. CBRE Group, Inc. has a 12 month low of $84.24 and a 12 month high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The stock has a market cap of $42.57 billion, a P/E ratio of 45.19 and a beta of 1.39. The stock’s 50 day moving average price is $137.32 and its 200 day moving average price is $129.90.

CBRE Group (NYSE:CBRE) last posted 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 return on equity of 16.96% and a net margin of 2.71%. As a group, research analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

CBRE Group 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.