CBRE Group (NYSE:CBRE) Sets New 52-Week High – Here’s What Happened

CBRE Group, Inc. (NYSE:CBRE)’s stock price hit a new 52-week high on Monday . The company traded as high as $142.01 and last traded at $142.62, with a volume of 61833 shares traded. The stock had previously closed at $141.13.

Analyst Ratings Changes

Several research analysts have weighed in on CBRE shares. Citigroup lifted their target price on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised 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. Morgan Stanley upgraded shares of CBRE Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $115.00 to $160.00 in a research report on Wednesday, January 15th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.56.

CBRE Group Stock Performance

The company has a market cap of $43.84 billion, a P/E ratio of 46.00 and a beta of 1.39. 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 firm’s fifty day moving average price is $134.08 and its 200-day moving average price is $123.37.

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

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 of the company’s stock, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in CBRE Group in the 3rd quarter worth about $27,000. American National Bank & Trust bought a new position in shares of CBRE Group in the third quarter worth $28,000. Benjamin F. Edwards & Company Inc. lifted its position in CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares during the period. Ashton Thomas Securities LLC bought a new position in CBRE Group in the 3rd quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC raised its position in shares of CBRE Group by 2,830.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after buying an additional 283 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

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.