CBRE Group (NYSE:CBRE) Hits New 52-Week High After Analyst Upgrade

Shares of CBRE Group, Inc. (NYSE:CBRE) reached a new 52-week high during mid-day trading 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 have also recently issued reports on CBRE. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Evercore ISI raised their target price on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Activity

In related news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares in the company, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares in the last quarter. Swedbank AB acquired a new position in CBRE Group during the first quarter worth about $162,576,000. Robeco Institutional Asset Management B.V. increased its holdings in CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after buying an additional 993,963 shares in the last quarter. State Street Corp lifted its position in shares of CBRE Group by 5.4% during the 3rd quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after acquiring an additional 692,697 shares during the period. Finally, Eminence Capital LP boosted its stake in shares of CBRE Group by 42.6% during the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after acquiring an additional 453,406 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Trading Up 1.3 %

The business has a fifty day moving average of $127.66 and a two-hundred day moving average of $109.52. 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 company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $8.80 billion. During the same quarter last year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts expect that CBRE Group, Inc. will post 4.99 earnings per share 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.