CBRE Group (NYSE:CBRE) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CBRE Group (NYSE:CBRE) from a neutral rating to an overweight rating in a research note published on Monday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $163.00 price objective on the financial services provider’s stock, up from their previous price objective of $120.00.

CBRE has been the topic of several other reports. The Goldman Sachs Group started coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Citigroup raised 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. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Evercore ISI raised their target price on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.33.

CBRE Group Stock Performance

CBRE opened at $137.93 on Monday. The stock has a market cap of $42.21 billion, a P/E ratio of 44.35 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a fifty day moving average price of $132.06 and a 200 day moving average price of $114.38. CBRE Group has a 1 year low of $82.75 and a 1 year high of $142.00.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that CBRE Group will post 4.99 earnings per share for the current year.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

Several large investors have recently made changes to their positions in the stock. State Street Corp raised its position 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 valued at $1,672,204,000 after purchasing an additional 692,697 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 valued at $950,270,000 after buying an additional 56,888 shares in the last quarter. FMR LLC raised its holdings in shares of CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares during the period. Principal Financial Group Inc. lifted its stake in 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 worth $924,223,000 after acquiring an additional 277,922 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in CBRE Group by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after acquiring an additional 49,732 shares in the last quarter. 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.