CBRE Group (NYSE:CBRE) Raised to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of CBRE Group (NYSE:CBRE) from a hold rating to a buy rating in a report published on Thursday, Marketbeat reports. The firm currently has $152.00 price objective on the financial services provider’s stock, up from their prior price objective of $133.00.

A number of other brokerages also recently issued reports on CBRE. Evercore ISI increased their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 target price for the company. Citigroup lifted their price target on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

CBRE Group Stock Performance

NYSE CBRE opened at $131.50 on Thursday. The firm has a 50-day moving average price of $133.90 and a two-hundred day moving average price of $118.24. CBRE Group has a 12-month low of $82.75 and a 12-month high of $142.00. The company has a market capitalization of $40.24 billion, a P/E ratio of 42.28 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. Analysts anticipate that CBRE Group will post 4.99 earnings per share for the current year.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

Several institutional investors and hedge funds have recently made changes to their positions in CBRE. State Street Corp boosted its holdings in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after acquiring an additional 692,697 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CBRE Group by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after purchasing an additional 56,888 shares during the period. FMR LLC boosted its stake in shares of CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of CBRE Group by 3.9% during the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after buying an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in CBRE Group by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after buying an additional 49,732 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

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.