The Goldman Sachs Group Begins Coverage on CBRE Group (NYSE:CBRE)

Investment analysts at The Goldman Sachs Group initiated coverage on shares of CBRE Group (NYSE:CBRE) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $176.00 price target on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 27.65% from the company’s previous close.

Several other analysts have also recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Citigroup increased their price target on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Evercore ISI increased their price target on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and an average price target of $129.63.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $137.88 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $42.19 billion, a price-to-earnings ratio of 44.33 and a beta of 1.39. CBRE Group has a 1-year low of $80.97 and a 1-year high of $142.00. The firm’s 50-day moving average price is $130.27 and its two-hundred day moving average price is $112.08.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. On average, equities analysts predict that CBRE Group will post 4.99 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CBRE Group

Several hedge funds have recently bought and sold shares of the company. State Street Corp raised its holdings in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after purchasing an additional 692,697 shares during the period. Geode Capital Management LLC raised its holdings in CBRE Group by 0.7% in the third quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after purchasing an additional 56,888 shares during the period. FMR LLC raised its holdings in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after purchasing an additional 3,498,244 shares during the period. Principal Financial Group Inc. raised its holdings in CBRE Group by 3.9% in the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after purchasing an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in CBRE Group by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after purchasing an additional 49,732 shares during the period. 98.41% of the stock is currently 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.