Kornitzer Capital Management Inc. KS Decreases Position in CBRE Group, Inc. $CBRE

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 14.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,674 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in CBRE Group were worth $9,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Donoghue Forlines LLC acquired a new stake in CBRE Group in the 3rd quarter worth approximately $2,104,000. KBC Group NV raised its holdings in shares of CBRE Group by 4.4% in the second quarter. KBC Group NV now owns 248,956 shares of the financial services provider’s stock worth $34,883,000 after buying an additional 10,438 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of CBRE Group by 27.1% during the third quarter. Nordea Investment Management AB now owns 406,963 shares of the financial services provider’s stock worth $63,474,000 after buying an additional 86,774 shares during the period. Trek Financial LLC purchased a new stake in shares of CBRE Group during the third quarter valued at $4,671,000. Finally, Choreo LLC increased its position in shares of CBRE Group by 42.0% in the 2nd quarter. Choreo LLC now owns 10,129 shares of the financial services provider’s stock valued at $1,419,000 after acquiring an additional 2,995 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Price Performance

NYSE:CBRE opened at $170.31 on Tuesday. The company has a 50 day moving average price of $162.51 and a 200-day moving average price of $158.22. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $173.05. The firm has a market cap of $50.68 billion, a price-to-earnings ratio of 42.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.13 and a quick ratio of 1.13.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CBRE shares. Morgan Stanley lifted their price target on CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their target price on CBRE Group from $185.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CBRE Group in a research report on Wednesday, January 21st. UBS Group raised their price target on shares of CBRE Group from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, Barclays lifted their price objective on shares of CBRE Group from $190.00 to $192.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.14.

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.