CBRE Group (NYSE:CBRE) Stock Breaks Above 50-Day Moving Average – Time to Sell?

CBRE Group, Inc. (NYSE:CBRE)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $136.08 and traded as high as $138.51. CBRE Group shares last traded at $136.7910, with a volume of 2,770,546 shares changing hands.

Analysts Set New Price Targets

CBRE has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on CBRE Group from $190.00 to $186.00 in a report on Tuesday, October 13th. Evercore lowered their target price on shares of CBRE Group from $175.00 to $166.00 and set an “outperform” rating on the stock in a research note on Monday, September 28th. Keefe, Bruyette & Woods dropped their price target on shares of CBRE Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Barclays lifted their price target on shares of CBRE Group from $180.00 to $183.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of CBRE Group in a report on Friday, August 21st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.44.

CBRE Group Price Performance

The firm has a 50-day simple moving average of $136.08 and a 200-day simple moving average of $141.80. The firm has a market capitalization of $39.42 billion, a PE ratio of 29.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 1.17.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.96 by $0.09. CBRE Group had a net margin of 3.08% and a return on equity of 26.31%. The firm had revenue of $11.52 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities analysts forecast that CBRE Group, Inc. will post 7.76 earnings per share for the current year.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $148.29, for a total transaction of $333,652.50. Following the completion of the sale, the chief financial officer directly owned 108,479 shares of the company’s stock, valued at approximately $16,086,350.91. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad Doellinger sold 228 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total transaction of $33,810.12. Following the completion of the transaction, the insider owned 41,778 shares in the company, valued at $6,195,259.62. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

A number of institutional investors have recently bought and sold shares of CBRE. CenterBook Partners LP increased its position in shares of CBRE Group by 468.2% during the 3rd quarter. CenterBook Partners LP now owns 21,126 shares of the financial services provider’s stock valued at $2,714,000 after purchasing an additional 17,408 shares during the last quarter. Heritage Family Offices LLP bought a new stake in CBRE Group in the third quarter worth $162,000. Allegiance Financial Group Advisory Services LLC purchased a new position in CBRE Group during the third quarter worth $265,000. Alta Advisers Ltd purchased a new position in CBRE Group during the third quarter worth $272,000. Finally, Kestra Advisory Services LLC increased its position in CBRE Group by 125.4% during the third quarter. Kestra Advisory Services LLC now owns 9,216 shares of the financial services provider’s stock valued at $1,184,000 after acquiring an additional 5,128 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

About CBRE Group

CBRE Group, Inc (NYSE:CBRE) is a global commercial real estate services and investment firm. The company provides advisory, transaction, property management, facilities management, project management, valuation, and consulting services to corporate, institutional, and other real estate clients.

Its businesses support the acquisition, development, leasing, operation, and disposition of commercial properties across sectors such as office, industrial and logistics, retail, multifamily, hospitality, and data centers.