CBRE Group (NYSE:CBRE) Raised to “Overweight” at JPMorgan Chase & Co.

CBRE Group (NYSE:CBRE) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Monday, Marketbeat.com reports. The firm presently has a $163.00 price objective on the financial services provider’s stock, up from their previous price objective of $120.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 19.99% from the company’s previous close.

CBRE has been the topic of a number of other reports. The Goldman Sachs Group began coverage on CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 price target on the stock. Citigroup lifted their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Evercore ISI lifted their price target on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.33.

CBRE Group Stock Down 1.5 %

CBRE stock opened at $135.85 on Monday. The business’s 50-day moving average price is $132.36 and its 200-day moving average price is $114.71. The stock has a market cap of $41.57 billion, a P/E ratio of 43.68 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group has a twelve month low of $82.75 and a twelve month high of $142.00.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. On average, equities research analysts forecast that CBRE Group will post 4.99 EPS for the current year.

Insider Activity

In other CBRE Group news, 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 directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CBRE. Synovus Financial Corp grew its stake in CBRE Group by 2.9% in the third quarter. Synovus Financial Corp now owns 11,544 shares of the financial services provider’s stock worth $1,437,000 after purchasing an additional 330 shares in the last quarter. Tidal Investments LLC grew its position in shares of CBRE Group by 97.4% during the 3rd quarter. Tidal Investments LLC now owns 10,290 shares of the financial services provider’s stock worth $1,281,000 after buying an additional 5,077 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of CBRE Group during the third quarter valued at $2,330,000. World Investment Advisors LLC bought a new stake in shares of CBRE Group in the third quarter valued at about $285,000. Finally, TCW Group Inc. lifted its stake in CBRE Group by 111.7% in the third quarter. TCW Group Inc. now owns 85,188 shares of the financial services provider’s stock worth $10,604,000 after acquiring an additional 44,957 shares during the period. 98.41% of the stock is currently owned by institutional investors.

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.