Neuberger Berman Group LLC Grows Stock Position in CBRE Group, Inc. $CBRE

by · The Cerbat Gem

Neuberger Berman Group LLC increased its stake in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 23.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,974 shares of the financial services provider’s stock after buying an additional 6,175 shares during the quarter. Neuberger Berman Group LLC’s holdings in CBRE Group were worth $4,480,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of CBRE Group by 1.8% in the 2nd quarter. State Street Corp now owns 13,734,182 shares of the financial services provider’s stock worth $1,924,434,000 after acquiring an additional 236,323 shares during the last quarter. Geode Capital Management LLC raised its position in CBRE Group by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 8,249,441 shares of the financial services provider’s stock worth $1,158,068,000 after purchasing an additional 134,160 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in CBRE Group by 0.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,939,862 shares of the financial services provider’s stock worth $552,053,000 after purchasing an additional 26,563 shares during the last quarter. Norges Bank bought a new stake in CBRE Group in the second quarter worth about $544,554,000. Finally, Northern Trust Corp boosted its position in shares of CBRE Group by 2.1% during the first quarter. Northern Trust Corp now owns 3,870,304 shares of the financial services provider’s stock valued at $506,158,000 after buying an additional 80,791 shares during the period. Institutional investors own 98.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CBRE shares. Barclays initiated coverage on CBRE Group in a report on Tuesday, December 2nd. They issued an “overweight” rating and a $190.00 price target on the stock. Evercore ISI lifted their target price on CBRE Group from $164.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, August 25th. Weiss Ratings restated a “buy (b-)” rating on shares of CBRE Group in a report on Wednesday, October 8th. UBS Group lifted their price objective 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, Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $167.00 to $168.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and an average price target of $175.13.

Read Our Latest Report on CBRE

CBRE Group Stock Performance

CBRE stock opened at $159.55 on Monday. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $171.00. The business has a 50-day moving average price of $156.19 and a 200 day moving average price of $151.60. The company has a market capitalization of $47.48 billion, a P/E ratio of 39.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE – Get Free Report) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.15. CBRE Group had a net margin of 3.12% and a return on equity of 20.55%. The company had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $10.11 billion. During the same period in the prior year, the business earned $1.20 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. As a group, equities research analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

CBRE Group Company Profile

(Free Report)

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.

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