CBRE Group (NYSE:CBRE) Sets New 12-Month High – Still a Buy?

Shares of CBRE Group, Inc. (NYSE:CBRE) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $147.10 and last traded at $140.84, with a volume of 2540610 shares trading hands. The stock had previously closed at $144.65.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CBRE shares. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $163.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group began coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.56.

CBRE Group Price Performance

The business’s 50-day simple moving average is $135.23 and its two-hundred day simple moving average is $125.37. The stock has a market cap of $44.05 billion, a price-to-earnings ratio of 46.28 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CBRE Group

Several large investors have recently modified their holdings of CBRE. Cetera Investment Advisers increased its position in CBRE Group by 0.6% during the 2nd quarter. Cetera Investment Advisers now owns 28,109 shares of the financial services provider’s stock valued at $2,505,000 after purchasing an additional 162 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of CBRE Group during the second quarter worth $1,719,000. Handelsbanken Fonder AB raised its stake in CBRE Group by 6.2% during the third quarter. Handelsbanken Fonder AB now owns 15,726 shares of the financial services provider’s stock worth $1,958,000 after buying an additional 917 shares during the last quarter. Czech National Bank boosted its position in CBRE Group by 6.8% during the third quarter. Czech National Bank now owns 61,359 shares of the financial services provider’s stock valued at $7,638,000 after acquiring an additional 3,886 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in CBRE Group by 15.2% during the third quarter. GAMMA Investing LLC now owns 4,740 shares of the financial services provider’s stock valued at $590,000 after acquiring an additional 625 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

About CBRE Group

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.