CBRE Group (NYSE:CBRE) Hits New 52-Week High at $122.19

CBRE Group, Inc. (NYSE:CBRE) reached a new 52-week high during trading on Thursday . The company traded as high as $122.19 and last traded at $121.77, with a volume of 156842 shares traded. The stock had previously closed at $120.35.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CBRE. Morgan Stanley began coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Raymond James raised their price target on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. UBS Group dropped their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price target on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $37.33 billion, a P/E ratio of 37.49 and a beta of 1.40. The stock has a fifty day moving average of $109.91 and a 200-day moving average of $96.88.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. On average, research analysts anticipate that CBRE Group, Inc. will post 4.81 EPS for the current year.

Insider Activity

In other news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at approximately $24,894,168.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The disclosure for this sale can be found here. In the last three months, insiders sold 27,232 shares of company stock worth $3,058,787. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CBRE Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in shares of CBRE Group by 500.1% in the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock valued at $2,718,000 after buying an additional 23,290 shares during the period. Natixis increased its stake in shares of CBRE Group by 69.0% in the first quarter. Natixis now owns 55,018 shares of the financial services provider’s stock valued at $5,350,000 after buying an additional 22,464 shares during the period. Quantbot Technologies LP acquired a new stake in shares of CBRE Group in the first quarter valued at about $1,118,000. Nordea Investment Management AB increased its stake in shares of CBRE Group by 1,730.4% in the first quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock valued at $38,550,000 after buying an additional 372,870 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of CBRE Group by 103.8% in the fourth quarter. Fisher Asset Management LLC now owns 44,065 shares of the financial services provider’s stock valued at $4,102,000 after buying an additional 22,442 shares during the period. Institutional investors and hedge funds 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.