CBRE Group (NYSE:CBRE) PT Raised to $132.00

CBRE Group (NYSE:CBRE) had its price objective lifted by Evercore ISI from $123.00 to $132.00 in a research report report published on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. UBS Group dropped their price objective on CBRE Group from $100.00 to $95.00 and set a neutral rating on the stock in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $110.00 to $120.00 and gave the company a market perform rating in a research note on Thursday, August 1st. Wolfe Research raised shares of CBRE Group to a strong-buy rating in a research report on Friday, August 16th. Morgan Stanley started coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an equal weight rating and a $105.00 target price on the stock. Finally, Raymond James lifted their price target 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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $113.83.

CBRE Group Trading Down 1.3 %

Shares of CBRE stock opened at $119.22 on Friday. CBRE Group has a 1-year low of $64.63 and a 1-year high of $125.43. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The stock has a market cap of $36.58 billion, a price-to-earnings ratio of 37.14 and a beta of 1.40. The stock has a 50-day moving average of $115.65 and a 200-day moving average of $99.41.

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

Insiders Place Their Bets

In other news, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the sale, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $109.87, for a total transaction of $219,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at $1,824,501.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,232 shares of company stock worth $3,058,787. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CBRE. Wellington Management Group LLP raised its stake in shares of CBRE Group by 164.1% during the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after purchasing an additional 2,799,097 shares during the period. Swedbank AB purchased a new position in CBRE Group in the first quarter valued at about $162,576,000. Harris Associates L P grew its position in shares of CBRE Group by 4.5% during 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 acquiring an additional 683,225 shares during the period. Eminence Capital LP increased its stake in shares of CBRE Group by 42.6% during the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after purchasing an additional 453,406 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of CBRE Group in the 2nd quarter worth approximately $36,820,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

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.