CBRE Group (NYSE:CBRE) Reaches New 52-Week High – Here’s What Happened

CBRE Group, Inc. (NYSE:CBRE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $125.51 and last traded at $125.31, with a volume of 1012753 shares changing hands. The stock had previously closed at $124.37.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore ISI upped their target price on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. UBS Group decreased their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Morgan Stanley assumed 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. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.83.

CBRE Group Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The company has a 50 day simple moving average of $118.16 and a 200 day simple moving average of $101.15. The stock has a market cap of $38.56 billion, a P/E ratio of 39.15 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts forecast that CBRE Group, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,232 shares of company stock worth $3,058,787 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CBRE Group

A number of large investors have recently added to or reduced their stakes in CBRE. Cetera Investment Advisers raised its holdings in CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock valued at $2,718,000 after acquiring an additional 23,290 shares during the period. Natixis lifted its holdings in CBRE Group by 69.0% during the 1st quarter. Natixis now owns 55,018 shares of the financial services provider’s stock worth $5,350,000 after purchasing an additional 22,464 shares during the last quarter. Quantbot Technologies LP bought a new stake in CBRE Group in the 1st quarter valued at $1,118,000. Nordea Investment Management AB increased its position in CBRE Group by 1,730.4% during the 1st quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock worth $38,550,000 after buying an additional 372,870 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of CBRE Group by 103.8% during the fourth quarter. Fisher Asset Management LLC now owns 44,065 shares of the financial services provider’s stock worth $4,102,000 after buying an additional 22,442 shares in the last quarter. 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.