CBRE Group (NYSE:CBRE) Sets New 52-Week High at $118.91

CBRE Group, Inc. (NYSE:CBRE) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $118.91 and last traded at $118.91, with a volume of 22548 shares trading hands. The stock had previously closed at $117.48.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CBRE shares. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $100.00 to $123.00 in a research report on Friday, July 26th. Morgan Stanley assumed coverage on shares of CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective for the company. Finally, Raymond James increased their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

CBRE Group Price 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 firm has a market capitalization of $36.36 billion, a price-to-earnings ratio of 36.97 and a beta of 1.40. The business’s fifty day simple moving average is $108.09 and its 200 day simple moving average is $96.31.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.82 earnings per share. On average, research analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current year.

Insiders Place Their Bets

In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at $7,538,019.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were 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 $7,538,019.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,232 shares of company stock worth $3,058,787. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CBRE. Benjamin F. Edwards & Company Inc. lifted its position in shares of CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of CBRE Group during the first quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its position in shares of CBRE Group by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 165 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of CBRE Group during the second quarter valued at about $75,000. Finally, Spartan Planning & Wealth Management bought a new position in shares of CBRE Group during the fourth quarter valued at about $78,000. 98.41% of the stock is owned by institutional investors.

CBRE Group Company Profile

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.