PNC Financial Services Group Inc. Acquires Shares of 2,412,276 CBRE Group Inc (CBRE)
PNC Financial Services Group Inc. acquired a new position in shares of CBRE Group Inc (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,412,276 shares of the financial services provider’s stock, valued at approximately $106,381,000. PNC Financial Services Group Inc. owned 0.71% of CBRE Group at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in CBRE Group during the 3rd quarter valued at about $103,000. Quadrant Capital Group LLC bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $128,000. Hanson & Doremus Investment Management bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $155,000. SRS Capital Advisors Inc. bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $156,000. Finally, Advisory Services Network LLC bought a new stake in shares of CBRE Group in the 3rd quarter valued at approximately $162,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.
CBRE opened at $42.12 on Wednesday. CBRE Group Inc has a twelve month low of $38.05 and a twelve month high of $50.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $14.87 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.05 and a beta of 1.76.
CBRE has been the subject of several recent research reports. Barclays boosted their price target on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 30th. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday, August 6th. Bank of America lowered their price target on CBRE Group from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, ValuEngine cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CBRE Group currently has an average rating of “Buy” and an average price target of $52.56.
TRADEMARK VIOLATION WARNING: “PNC Financial Services Group Inc. Acquires Shares of 2,412,276 CBRE Group Inc (CBRE)” was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.dailypolitical.com/2018/11/21/pnc-financial-services-group-inc-acquires-shares-of-2412276-cbre-group-inc-cbre.html.
About CBRE Group
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.
Recommended Story: Closed-End Mutual Funds
Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group Inc (NYSE:CBRE).
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.