CBRE Group (NYSE:CBRE) Reaches New 12-Month High at $124.97

CBRE Group, Inc. (NYSE:CBRE)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $124.97 and last traded at $122.86, with a volume of 27392 shares. The stock had previously closed at $124.48.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CBRE. Evercore ISI raised CBRE Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. Finally, Raymond James increased their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and an average target price of $112.33.

CBRE Group Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $114.11 and its two-hundred day simple moving average is $98.58. The company has a market capitalization of $37.52 billion, a P/E ratio of 38.78 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, research analysts expect that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Vikramaditya Kohli sold 1,074 shares of the company’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 completion of the sale, 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 SEC, which is accessible through this hyperlink. In other news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $116,947.86. Following the sale, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The disclosure for this sale can be found here. Insiders sold a total of 27,232 shares of company stock valued at $3,058,787 over the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

A number of institutional investors have recently modified their holdings of CBRE. Harris Associates L P increased its stake in CBRE Group by 4.5% in the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after buying an additional 683,225 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of CBRE Group by 3.0% in the second quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock valued at $636,847,000 after acquiring an additional 210,004 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CBRE Group by 0.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock worth $542,419,000 after acquiring an additional 53,142 shares in the last quarter. Wellington Management Group LLP boosted its position in CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in CBRE Group by 1.5% in the second quarter. Earnest Partners LLC now owns 3,636,908 shares of the financial services provider’s stock valued at $324,085,000 after purchasing an additional 54,510 shares in the last quarter. 98.41% of the stock is currently owned by 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.