Citigroup Boosts CBRE Group (NYSE:CBRE) Price Target to $160.00

CBRE Group (NYSE:CBRE) had its price objective hoisted by Citigroup from $130.00 to $160.00 in a report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Evercore ISI boosted their price objective on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, CBRE Group has a consensus rating of “Moderate Buy” and an average price target of $123.00.

CBRE Group Price Performance

CBRE stock opened at $140.71 on Monday. The company has a market cap of $43.06 billion, a PE ratio of 45.24 and a beta of 1.39. 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 50-day moving average price of $128.43 and a two-hundred day moving average price of $109.95. CBRE Group has a 12-month low of $78.18 and a 12-month high of $142.00.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, research analysts predict that CBRE Group will post 4.99 EPS for the current year.

Insider Buying and Selling

In other news, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were 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 in the company, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position 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 worth $944,435,000 after acquiring an additional 3,498,244 shares in the last quarter. Swedbank AB bought a new position in CBRE Group during the first quarter worth $162,576,000. Robeco Institutional Asset Management B.V. boosted its holdings in CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after purchasing an additional 993,963 shares during the period. State Street Corp increased its stake in CBRE Group by 5.4% during 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 last quarter. Finally, Eminence Capital LP raised its holdings in shares of CBRE Group by 42.6% during the second 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 period. 98.41% of the stock is 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.