CBRE Group, Inc. (NYSE:CBRE) Receives $123.00 Average Target Price from Brokerages

Shares of CBRE Group, Inc. (NYSE:CBRE) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $123.00.

Several research analysts recently commented on CBRE shares. Citigroup lifted their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI lifted their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods lifted their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred 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 sale, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On CBRE Group

A number of large investors have recently bought and sold shares of the business. State Street Corp raised its stake in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after buying an additional 692,697 shares in the last quarter. Geode Capital Management LLC raised its stake in CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after buying an additional 56,888 shares in the last quarter. FMR LLC grew its holdings in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after purchasing an additional 3,498,244 shares during the last quarter. Principal Financial Group Inc. grew its holdings in CBRE Group by 3.9% in the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after purchasing an additional 277,922 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in CBRE Group by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after purchasing an additional 49,732 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

CBRE Group Trading Up 0.5 %

Shares of CBRE Group stock opened at $137.76 on Monday. The firm has a market cap of $42.16 billion, a price-to-earnings ratio of 44.29 and a beta of 1.39. The business has a 50-day moving average price of $129.72 and a 200-day moving average price of $111.43. 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 $80.61 and a twelve month high of $142.00.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data 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. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. Equities research analysts anticipate that CBRE Group will post 4.99 EPS 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.