CBRE Group (NYSE:CBRE) Receives “Buy” Rating from Citigroup

Citigroup reiterated their buy rating on shares of CBRE Group (NYSE:CBRE) in a research note released on Monday morning, Benzinga reports. Citigroup currently has a $98.00 price objective on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Raymond James dropped their price target on shares of CBRE Group from $102.00 to $100.00 and set a strong-buy rating on the stock in a research report on Friday, July 28th. Evercore ISI dropped their target price on shares of CBRE Group from $94.00 to $91.00 and set an outperform rating on the stock in a research report on Monday, September 11th. Finally, StockNews.com began coverage on shares of CBRE Group in a research report on Thursday, August 17th. They issued a hold rating on the stock. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group has an average rating of Moderate Buy and a consensus target price of $91.71.

CBRE Group Price Performance

CBRE opened at $78.91 on Monday. The company has a fifty day simple moving average of $84.55 and a 200 day simple moving average of $78.65. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 29.89 and a beta of 1.36. CBRE Group has a twelve month low of $66.31 and a twelve month high of $89.58. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. CBRE Group had a net margin of 2.74% and a return on equity of 15.42%. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.30 billion. During the same period last year, the business earned $1.83 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that CBRE Group will post 4.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Lindsey S. Caplan sold 1,305 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $83.08, for a total transaction of $108,419.40. Following the completion of the sale, the chief accounting officer now directly owns 17,215 shares in the company, valued at $1,430,222.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Brandon B. Boze sold 3,400,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $80.80, for a total transaction of $274,720,000.00. Following the completion of the sale, the director now directly owns 5,837,748 shares of the company’s stock, valued at approximately $471,690,038.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,305 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $83.08, for a total transaction of $108,419.40. Following the transaction, the chief accounting officer now owns 17,215 shares of the company’s stock, valued at $1,430,222.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,607,856 shares of company stock worth $376,671,359. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On CBRE Group

A number of hedge funds have recently added to or reduced their stakes in CBRE. Pacer Advisors Inc. boosted its stake in shares of CBRE Group by 0.6% in the 2nd quarter. Pacer Advisors Inc. now owns 19,399 shares of the financial services provider’s stock valued at $1,566,000 after purchasing an additional 124 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in CBRE Group by 11.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,180 shares of the financial services provider’s stock worth $91,000 after buying an additional 125 shares during the last quarter. Securian Asset Management Inc. increased its holdings in CBRE Group by 0.5% during the first quarter. Securian Asset Management Inc. now owns 26,098 shares of the financial services provider’s stock worth $1,900,000 after buying an additional 135 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in CBRE Group by 0.3% during the second quarter. Oppenheimer & Co. Inc. now owns 41,833 shares of the financial services provider’s stock worth $3,376,000 after purchasing an additional 135 shares during the period. Finally, BerganKDV Wealth Management LLC boosted its position in CBRE Group by 1.1% during the second quarter. BerganKDV Wealth Management LLC now owns 12,438 shares of the financial services provider’s stock worth $1,004,000 after purchasing an additional 138 shares during the period. Institutional investors own 96.71% of the company’s stock.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services 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.