CBRE Group (NYSE:CBRE) Reaches New 12-Month High Following Strong Earnings

CBRE Group, Inc. (NYSE:CBRE) shares reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $131.11 and last traded at $129.80, with a volume of 41249 shares. The stock had previously closed at $123.12.

The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Analyst Ratings Changes

CBRE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Morgan Stanley initiated coverage on CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Raymond James boosted their price target on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, UBS Group dropped their price objective on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and a consensus target price of $113.83.

Insider Buying and Selling at CBRE Group

In other news, CFO Emma E. Giamartino sold 3,311 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the transaction, the chief financial officer now directly owns 71,969 shares in the company, valued at $7,836,704.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Emma E. Giamartino sold 3,311 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $360,534.79. Following the transaction, the chief financial officer now owns 71,969 shares in the company, valued at $7,836,704.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the sale, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,232 shares of company stock worth $2,839,047. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

Several hedge funds and other institutional investors have recently modified their holdings of CBRE. Wealthcare Advisory Partners LLC bought a new stake in CBRE Group during the first quarter valued at about $314,000. Wealth Enhancement Advisory Services LLC raised its stake in CBRE Group by 20.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,224 shares of the financial services provider’s stock worth $1,480,000 after acquiring an additional 2,615 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in CBRE Group by 35.9% during the first quarter. Azzad Asset Management Inc. ADV now owns 34,246 shares of the financial services provider’s stock valued at $3,330,000 after purchasing an additional 9,052 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of CBRE Group by 39.0% in the first quarter. First Trust Direct Indexing L.P. now owns 8,273 shares of the financial services provider’s stock worth $804,000 after purchasing an additional 2,323 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of CBRE Group by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 10,700 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 242 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50-day moving average price is $119.43 and its 200 day moving average price is $101.99. The stock has a market capitalization of $40.67 billion, a P/E ratio of 41.29 and a beta of 1.40.

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.