CBRE Group (NYSE:CBRE) Rating Increased to Buy at StockNews.com

CBRE Group (NYSE:CBRE - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Wednesday.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. raised CBRE Group from a "neutral" rating to an "overweight" rating and upped their target price for the company from $120.00 to $163.00 in a report on Monday, December 16th. Morgan Stanley upped their target price on CBRE Group from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Citigroup upped their target price on CBRE Group from $130.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 25th. Evercore ISI reduced their target price on CBRE Group from $147.00 to $141.00 and set an "outperform" rating for the company in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods upped their target price on CBRE Group from $142.00 to $145.00 and gave the company a "market perform" rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CBRE Group has an average rating of "Moderate Buy" and an average price target of $149.89.

Remove Ads

CBRE Group Price Performance

Shares of CBRE Group stock traded down $0.38 during trading on Wednesday, hitting $129.76. The stock had a trading volume of 3,452,450 shares, compared to its average volume of 1,671,213. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The firm has a market cap of $38.93 billion, a P/E ratio of 41.32 and a beta of 1.42. The business has a fifty day moving average of $137.34 and a two-hundred day moving average of $131.76. CBRE Group has a fifty-two week low of $84.24 and a fifty-two week high of $147.75.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, sell-side analysts expect that CBRE Group will post 5.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Chad J. Doellinger sold 797 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the transaction, the insider now owns 28,735 shares of the company's stock, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the transaction, the chief financial officer now directly owns 107,343 shares in the company, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CBRE. Principal Financial Group Inc. increased its holdings in shares of CBRE Group by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider's stock valued at $924,223,000 after acquiring an additional 277,922 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in CBRE Group by 5.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,521 shares of the financial services provider's stock valued at $438,000 after purchasing an additional 181 shares during the period. Empowered Funds LLC boosted its stake in CBRE Group by 10.3% during the 3rd quarter. Empowered Funds LLC now owns 4,774 shares of the financial services provider's stock valued at $594,000 after purchasing an additional 446 shares during the period. Mutual of America Capital Management LLC boosted its stake in CBRE Group by 19.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 45,431 shares of the financial services provider's stock valued at $5,655,000 after purchasing an additional 7,394 shares during the period. Finally, Pathstone Holdings LLC boosted its stake in CBRE Group by 6.1% during the 3rd quarter. Pathstone Holdings LLC now owns 40,256 shares of the financial services provider's stock valued at $5,011,000 after purchasing an additional 2,329 shares during the period. Institutional investors and hedge funds own 98.41% of the company's stock.

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.