CBRE Group, Inc. (NYSE:CBG) had its target price hoisted by Bank of America Corporation from $42.00 to $44.00 in a research note released on Monday, November 6th. The brokerage currently has a buy rating on the financial services provider’s stock.
Several other analysts have also issued reports on the stock. Barclays PLC upped their price target on shares of CBRE Group from $42.00 to $43.00 and gave the company an overweight rating in a research report on Tuesday, August 15th. BidaskClub lowered shares of CBRE Group from a hold rating to a sell rating in a research report on Friday, August 11th. Wedbush restated an outperform rating and set a $38.00 price target on shares of CBRE Group in a research report on Wednesday, August 2nd. UBS AG began coverage on shares of CBRE Group in a report on Wednesday, July 26th. They set a neutral rating and a $41.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $36.00 target price on shares of CBRE Group in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. CBRE Group currently has a consensus rating of Hold and a consensus price target of $40.33.
CBRE Group (NYSE:CBG) opened at $42.78 on Monday. The firm has a market cap of $14,522.06, a price-to-earnings ratio of 16.14, a PEG ratio of 1.23 and a beta of 1.83. CBRE Group has a 1-year low of $28.21 and a 1-year high of $43.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28.
CBRE Group (NYSE:CBG) last announced its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. research analysts expect that CBRE Group will post 2.67 EPS for the current year.
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In other CBRE Group news, EVP Laurence H. Midler sold 7,878 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $40.69, for a total transaction of $320,555.82. Following the completion of the transaction, the executive vice president now owns 82,663 shares of the company’s stock, valued at $3,363,557.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Calvin W. Frese, Jr. sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $41.01, for a total transaction of $820,200.00. Following the transaction, the insider now directly owns 201,673 shares of the company’s stock, valued at approximately $8,270,609.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,620,099 shares of company stock valued at $202,124,385. 1.00% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hahn Capital Management LLC increased its position in shares of CBRE Group by 1.0% during the third quarter. Hahn Capital Management LLC now owns 1,170,732 shares of the financial services provider’s stock valued at $44,347,000 after acquiring an additional 11,091 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in CBRE Group in the third quarter worth approximately $359,000. Fieldpoint Private Securities LLC purchased a new stake in CBRE Group in the third quarter worth approximately $104,000. RWC Asset Management LLP boosted its holdings in CBRE Group by 22.8% in the third quarter. RWC Asset Management LLP now owns 537,321 shares of the financial services provider’s stock worth $20,354,000 after purchasing an additional 99,784 shares during the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in CBRE Group in the third quarter worth approximately $7,263,000. 95.65% of the stock is owned by institutional investors.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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