CBRE Group (NYSE:CBRE) Price Target Raised to $160.00

CBRE Group (NYSE:CBRE) had its target price hoisted by Citigroup from $130.00 to $160.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

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

CBRE Group Stock Up 2.4 %

CBRE stock opened at $138.74 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group has a 12 month low of $78.18 and a 12 month high of $140.97. The firm has a market capitalization of $42.46 billion, a PE ratio of 44.61 and a beta of 1.39. The company’s 50 day simple moving average is $127.21 and its 200-day simple moving average is $109.17.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts expect that CBRE Group will post 4.94 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the firm’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 transaction, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction on 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 directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of 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 buying an additional 3,498,244 shares during the period. Swedbank AB purchased a new position in CBRE Group in the 1st quarter worth approximately $162,576,000. Robeco Institutional Asset Management B.V. grew its position in CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after acquiring an additional 993,963 shares in the last quarter. State Street Corp raised its stake in shares of CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares during the period. Finally, Eminence Capital LP lifted its position in shares of CBRE Group by 42.6% during the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after purchasing an additional 453,406 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

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.