Citigroup Increases CBRE Group (NYSE:CBRE) Price Target to $160.00

CBRE Group (NYSE:CBREGet Free Report) had its price target lifted by equities researchers at Citigroup from $130.00 to $160.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price suggests a potential upside of 15.32% from the stock’s current price.

Several other equities research analysts have also weighed in on CBRE. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Evercore ISI raised their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

Check Out Our Latest Analysis on CBRE

CBRE Group Trading Up 2.4 %

NYSE CBRE traded up $3.31 on Monday, reaching $138.74. The company had a trading volume of 4,553,639 shares, compared to its average volume of 1,685,879. CBRE Group has a 52 week low of $78.18 and a 52 week high of $140.97. The stock’s 50 day moving average is $126.83 and its 200-day moving average is $108.80. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market cap of $42.46 billion, a price-to-earnings ratio of 44.61 and a beta of 1.39.

CBRE Group (NYSE:CBREGet Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. The company 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 company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Equities analysts predict that CBRE Group will post 4.94 earnings per share for the current year.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group 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 transaction, 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 is accessible 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 4.40 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CBRE Group

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

About CBRE Group

(Get Free Report)

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.

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Analyst Recommendations for CBRE Group (NYSE:CBRE)

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