CBRE Group (NYSE:CBRE) Sets New 52-Week High on Analyst Upgrade

CBRE Group, Inc. (NYSE:CBRE)’s stock 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.

Several other brokerages also recently weighed in on CBRE. Evercore ISI boosted their target price on 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 boosted their target price 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. Finally, Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five research 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 stock. According to data from MarketBeat.com, the stock 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 stock in a transaction dated 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 of the company’s stock, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated 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 transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC increased its holdings in CBRE Group by 5,784.5% in the 1st quarter. Lazard Asset Management LLC now owns 6,473 shares of the financial services provider’s stock worth $628,000 after acquiring an additional 6,363 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of CBRE Group by 46.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,969 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 1,256 shares during the last quarter. California State Teachers Retirement System lifted its stake in CBRE Group by 1.1% in the 1st quarter. California State Teachers Retirement System now owns 523,426 shares of the financial services provider’s stock valued at $50,898,000 after buying an additional 5,827 shares in the last quarter. Tidal Investments LLC boosted its holdings in CBRE Group by 188.0% in the 1st quarter. Tidal Investments LLC now owns 16,453 shares of the financial services provider’s stock worth $1,599,000 after buying an additional 10,740 shares during the last quarter. Finally, Comerica Bank increased its stake in CBRE Group by 7.4% during the 1st quarter. Comerica Bank now owns 91,518 shares of the financial services provider’s stock worth $8,899,000 after buying an additional 6,337 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Up 1.3 %

The firm has a market cap of $42.98 billion, a price-to-earnings ratio of 45.16 and a beta of 1.39. The business has a fifty day simple moving average of $127.66 and a 200 day simple moving average of $109.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the prior year, the company earned $0.72 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts forecast that CBRE Group, Inc. will post 4.99 EPS 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.