May 13, 2023 – Principal Financial Group Inc. recently decreased its stake in CBRE Group, Inc. (NYSE:CBRE) by 1.9% in the fourth quarter, according to a filing with the Securities and Exchange Commission. The decrease was reported as part of the company’s most recent filing with the regulatory agency. The financial services provider owned approximately 1.82% of CBRE Group worth $442,081,000 as of its most recent filing.
CBRE Group last reported earnings on Thursday, April 27th and delivered positive news for shareholders. The company announced an earnings per share (EPS) of $0.92 for the quarter, surpassing analysts’ consensus estimate by $0.11 at $0.81 per share. Additionally, CBRE Group reported revenue of $7.41 billion for the same period, which exceeded expectations set by investment experts who predicted revenues amounting to only $7.09 billion.
Although these gains are encouraging for investors and hedge fund managers alike, it is important to consider what other hedge funds are doing with regards to their holdings in this financial service provider to understand current market trends accurately.
To get an insider look at how some of the world’s foremost hedge funds are handling their stakes in CBRE Group Inc., individuals can find up-to-the-minute information via HoldingsChannel.com – a comprehensive database bestowing the latest 13F filings and insider trades available exclusively through its online portal.
As May continues forward with its slew of economic ups and downs that have been commonplace since the pandemic struck more than two years ago, savvy investors will keep a close eye on market movers such as financial services providers like CBRE Group Inc., and take advantage of current opportunities while staying wise about risks inherent in any investment strategy going forward into Q2 and beyond.
In conclusion; As Principal Financial Groups cuts down their stake in shares of CBRE group by 1.9% in the fourth quarter, to get an updated review of how other hedge funds are doing regarding their stakeholding while understanding market trends, investors can access current information on HoldingsChannel.com.
Hedge Funds Show Confidence in CBRE Group with Increased Stakes
Hedge funds have been active in their dealings with CBRE Group, as some have added to or reduced their stakes in the company. The Treasurer of the State of North Carolina increased its stake by 7.3% while Royal London Asset Management Ltd. and Hightower Advisors LLC increased their stakes by 11.9% and 5.3%, respectively. Meanwhile, Edmond DE Rothschild Holding S.A. and Mercer Global Advisors Inc. ADV both boosted their holdings by more than 20%. These moves show that these investors recognize the value and potential in CBRE Group, which is a financial services provider in commercial real estate and investment services across the globe.
Although CBRE’s trading volume has gone down from its average, its current market capitalization is $22.59 billion with a P/E ratio of 21.16 and a beta of 1.36 as shares traded at $72.67 during mid-day trading on May 13th.
Investors who wish to follow hedge funds’ positions on CBRE Group can visit HoldingsChannel.com to monitor the latest filing updates.
Despite recent price fluctuations, various banks have maintained their ratings for CBRE Group’s stock due to its potential for growth in commercial real estate and investment services markets worldwide If data from Bloomberg are anything to go by with a consensus rating of “Moderate Buy” being assigned to it along with an average target price set at around $89.86USD per share.
CBRE Group has three main business segments, including Advisory Services that provide leasing, capital markets (property sales & mortgage origination), project management services, property management services & valuation services; Global Workplace Solutions offer integrated & outsourced workplace solutions such as facilities management services; while Real Estate Investment enables institutional & high-net-worth investors invest in commercial real estate assets.
