CBRE Group (NYSE:CBRE) Reaches New 1-Year High After Analyst Upgrade

CBRE Group, Inc. (NYSE:CBRE)’s share price reached a new 52-week high 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 changing hands. The stock had previously closed at $135.43.

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

Insider Buying and Selling at CBRE Group

In other news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

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

CBRE Group Price Performance

The company has a 50 day moving average price of $127.66 and a 200 day moving average price of $109.52. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $42.98 billion, a P/E ratio of 45.16 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.14. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. On average, equities analysts predict that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

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.