CBRE Group (NYSE:CBRE) Hits New 1-Year High at $122.19

Shares of CBRE Group, Inc. (NYSE:CBRE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $122.19 and last traded at $121.77, with a volume of 156842 shares traded. The stock had previously closed at $120.35.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group dropped their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $100.00 to $123.00 in a report on Friday, July 26th. Morgan Stanley started coverage on CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Five 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

CBRE Group Price Performance

The stock has a market capitalization of $37.31 billion, a price-to-earnings ratio of 37.88 and a beta of 1.40. The company has a fifty day simple moving average of $111.03 and a 200 day simple moving average of $97.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. Equities research analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $360,534.79. Following the transaction, the chief financial officer now directly owns 71,969 shares of the company’s stock, valued at approximately $7,836,704.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the transaction, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 3,311 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $360,534.79. Following the completion of the transaction, the chief financial officer now directly owns 71,969 shares in the company, valued at $7,836,704.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,232 shares of company stock valued at $3,058,787. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its stake in shares of CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock valued at $2,718,000 after purchasing an additional 23,290 shares during the period. Natixis increased its position in CBRE Group by 69.0% in the 1st quarter. Natixis now owns 55,018 shares of the financial services provider’s stock valued at $5,350,000 after buying an additional 22,464 shares in the last quarter. Quantbot Technologies LP bought a new stake in CBRE Group in the 1st quarter valued at about $1,118,000. Nordea Investment Management AB increased its position in CBRE Group by 1,730.4% in the 1st quarter. Nordea Investment Management AB now owns 394,418 shares of the financial services provider’s stock valued at $38,550,000 after buying an additional 372,870 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in CBRE Group by 103.8% in the 4th quarter. Fisher Asset Management LLC now owns 44,065 shares of the financial services provider’s stock valued at $4,102,000 after buying an additional 22,442 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

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.