CBRE Group (NYSE:CBRE) Price Target Raised to $170.00

CBRE Group (NYSE:CBRE) had its price target hoisted by Morgan Stanley from $160.00 to $170.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on CBRE. Wall Street Zen raised CBRE Group from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $129.00 to $131.00 and gave the company a “market perform” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of CBRE Group from $163.00 to $141.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, UBS Group cut their price objective on shares of CBRE Group from $146.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and an average target price of $150.33.

CBRE Group Stock Performance

CBRE stock opened at $132.87 on Thursday. CBRE Group has a twelve month low of $85.74 and a twelve month high of $147.75. The firm has a market cap of $39.61 billion, a price-to-earnings ratio of 42.32 and a beta of 1.29. The business’s fifty day simple moving average is $124.20 and its two-hundred day simple moving average is $131.08. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. The company had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter last year, the firm posted $0.78 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Analysts predict that CBRE Group will post 5.99 earnings per share for the current year.

Insider Buying and Selling

In other CBRE Group news, insider Chad J. Doellinger sold 494 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the completion of the sale, the insider now owns 27,945 shares of the company’s stock, valued at approximately $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the transaction, the chief financial officer now directly owns 107,343 shares of the company’s stock, valued at $13,491,941.67. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,599 shares of company stock worth $584,980 in the last 90 days. 0.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CBRE. Norges Bank acquired a new position in shares of CBRE Group in the 4th quarter valued at $514,609,000. Artisan Partners Limited Partnership grew its stake in CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after purchasing an additional 3,011,566 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of CBRE Group by 217.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider’s stock valued at $511,781,000 after purchasing an additional 2,680,337 shares during the period. Nuveen LLC purchased a new position in shares of CBRE Group in the first quarter worth about $214,283,000. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in shares of CBRE Group during the fourth quarter worth about $190,695,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

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.