CBRE Group (NYSE:CBRE) Reaches New 12-Month High Following Analyst Upgrade

CBRE Group, Inc. (NYSE:CBRE)’s stock price hit a new 52-week high during mid-day trading on Monday after Citigroup raised their price target on the stock from $130.00 to $160.00. Citigroup currently has a buy rating on the stock. CBRE Group traded as high as $138.91 and last traded at $138.85, with a volume of 18870 shares trading hands. The stock had previously closed at $135.43.

CBRE has been the subject of a number of other research reports. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods increased their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Evercore ISI lifted their price target on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On CBRE Group

Several institutional investors have recently modified their holdings of CBRE. Synovus Financial Corp lifted its position in shares of CBRE Group by 2.9% during the 3rd quarter. Synovus Financial Corp now owns 11,544 shares of the financial services provider’s stock valued at $1,437,000 after buying an additional 330 shares during the last quarter. Tidal Investments LLC raised its stake in CBRE Group by 97.4% in the 3rd quarter. Tidal Investments LLC now owns 10,290 shares of the financial services provider’s stock valued at $1,281,000 after acquiring an additional 5,077 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of CBRE Group in the third quarter worth about $2,330,000. World Investment Advisors LLC bought a new stake in shares of CBRE Group in the third quarter valued at approximately $285,000. Finally, TCW Group Inc. boosted its holdings in CBRE Group by 111.7% in the 3rd quarter. TCW Group Inc. now owns 85,188 shares of the financial services provider’s stock worth $10,604,000 after buying an additional 44,957 shares during the period. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

The firm has a market capitalization of $42.98 billion, a PE ratio of 45.16 and a beta of 1.39. The business’s 50 day moving average is $127.66 and its two-hundred day moving average is $109.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Equities research analysts anticipate that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

CBRE Group Company 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.