CBRE Group (NYSE:CBRE) Sets New 1-Year High at $118.91

CBRE Group, Inc. (NYSE:CBRE)’s share price reached a new 52-week high on Friday . The stock traded as high as $118.91 and last traded at $118.91, with a volume of 22548 shares. The stock had previously closed at $117.48.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Morgan Stanley assumed coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. UBS Group cut their price target on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $123.00 in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

CBRE Group Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $36.39 billion, a P/E ratio of 37.04 and a beta of 1.40. The stock’s 50 day simple moving average is $107.46 and its two-hundred day simple moving average is $96.07.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current year.

Insider Activity

In other news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the sale, the director now directly owns 51,244 shares in the company, valued at $5,739,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now owns 51,244 shares in the company, valued at $5,739,328. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the transaction, the chief operating officer now owns 69,226 shares in the company, valued at $7,538,019.14. The disclosure for this sale can be found here. Insiders have sold 27,232 shares of company stock worth $3,058,787 over the last ninety days. Insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

A number of hedge funds have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. raised its stake in CBRE Group by 190.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the period. Crewe Advisors LLC bought a new stake in shares of CBRE Group in the first quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its position in CBRE Group by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after buying an additional 165 shares in the last quarter. EdgeRock Capital LLC bought a new position in CBRE Group during the 2nd quarter worth $75,000. Finally, Spartan Planning & Wealth Management acquired a new position in CBRE Group in the 4th quarter valued at $78,000. 98.41% of the stock is owned by institutional investors and hedge funds.

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.