CBRE Group (NYSE:CBRE) Reaches New 1-Year High at $124.97

CBRE Group, Inc. (NYSE:CBRE)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $124.97 and last traded at $122.86, with a volume of 27392 shares trading hands. The stock had previously closed at $124.48.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James raised their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $123.00 in a report on Friday, July 26th. Morgan Stanley started coverage on CBRE Group in a research report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price on the stock. UBS Group dropped their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Trading Down 1.8 %

The firm has a market capitalization of $37.52 billion, a P/E ratio of 38.78 and a beta of 1.40. 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 50 day moving average of $114.11 and a 200-day moving average of $98.58.

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

Insiders Place Their Bets

In other news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at approximately $7,538,019.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. The disclosure for this sale can be found here. Insiders have sold 27,232 shares of company stock worth $3,058,787 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of CBRE Group by 164.1% in the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after acquiring an additional 2,799,097 shares in the last quarter. Swedbank AB bought a new stake in CBRE Group in the first quarter worth approximately $162,576,000. Harris Associates L P lifted its stake in CBRE Group by 4.5% in the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after buying an additional 683,225 shares during the period. Eminence Capital LP boosted its holdings 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 buying an additional 453,406 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in shares of CBRE Group during the 2nd quarter worth approximately $36,820,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

About CBRE Group

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.