CBRE Group, Inc. (NYSE:CBRE) Receives $99.50 Average Target Price from Brokerages

Shares of CBRE Group, Inc. (NYSE:CBRE) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $99.50.

Several research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. StockNews.com upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Raymond James lifted their price target on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Finally, TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th.

CBRE Group Price Performance

NYSE CBRE opened at $87.11 on Friday. CBRE Group has a 12 month low of $64.63 and a 12 month high of $98.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $26.74 billion, a PE ratio of 27.48 and a beta of 1.42. The company’s 50 day simple moving average is $92.40 and its 200 day simple moving average is $85.18.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The business had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business earned $1.33 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities research analysts forecast that CBRE Group will post 4.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 2,667 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now owns 72,350 shares of the company’s stock, valued at approximately $6,766,895.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the sale, the chief financial officer now owns 72,350 shares of the company’s stock, valued at approximately $6,766,895.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chandra Dhandapani sold 11,925 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the transaction, the chief executive officer now owns 127,064 shares in the company, valued at $11,947,827.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,592 shares of company stock valued at $3,675,752. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

Several institutional investors and hedge funds have recently modified their holdings of CBRE. Norges Bank bought a new stake in CBRE Group in the fourth quarter worth $381,164,000. Wellington Management Group LLP boosted its holdings in CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after purchasing an additional 2,799,097 shares in the last quarter. Parnassus Investments LLC bought a new stake in CBRE Group in the fourth quarter worth $104,277,000. Principal Financial Group Inc. boosted its holdings in CBRE Group by 15.1% in the third quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock worth $503,786,000 after purchasing an additional 894,521 shares in the last quarter. Finally, Harris Associates L P boosted its holdings in CBRE Group by 4.5% in the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after purchasing an additional 683,225 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

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.