CBRE Group (NYSE:CBRE) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of CBRE Group (NYSE:CBRE) in a research report report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $176.00 target price on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on CBRE. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Keefe, Bruyette & Woods increased their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Citigroup increased their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Evercore ISI increased their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.63.

CBRE Group Price Performance

CBRE opened at $137.88 on Friday. The stock has a market capitalization of $42.19 billion, a PE ratio of 44.33 and a beta of 1.39. The stock’s 50 day moving average price is $130.27 and its 200-day moving average price is $112.24. CBRE Group has a 52-week low of $80.97 and a 52-week high of $142.00. 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 issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. The company had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, equities research analysts predict that CBRE Group will post 4.99 EPS for the current year.

Insider Transactions at CBRE Group

In related news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction dated Friday, November 15th. The stock was 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 in the company, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

Institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers grew its position in shares of CBRE Group by 500.1% during the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after purchasing an additional 23,290 shares in the last quarter. Algert Global LLC purchased a new position in CBRE Group during the 3rd quarter valued at approximately $1,829,000. Czech National Bank grew its holdings in CBRE Group by 9.8% during the 2nd quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock valued at $5,121,000 after buying an additional 5,125 shares in the last quarter. Cornerstone Advisors LLC grew its holdings in CBRE Group by 29.9% during the 3rd quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock valued at $2,054,000 after buying an additional 3,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CBRE Group by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,876,724 shares of the financial services provider’s stock valued at $233,615,000 after buying an additional 16,202 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

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.