CBRE Group (NYSE:CBRE) Sets New 1-Year High – Here’s What Happened

CBRE Group, Inc. (NYSE:CBRE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $136.79 and last traded at $135.15, with a volume of 104550 shares traded. The stock had previously closed at $134.72.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Raymond James raised their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Morgan Stanley started coverage on CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

CBRE Group Stock Performance

The company has a market cap of $41.65 billion, a P/E ratio of 42.46 and a beta of 1.39. The stock’s 50-day moving average price is $122.61 and its 200-day moving average price is $104.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last announced 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. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. Equities analysts anticipate that CBRE Group, Inc. will post 5.02 EPS for the current year.

Insider Buying and Selling

In related news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction that occurred 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 sale, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Daniel G. Queenan sold 10,000 shares of the 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 transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction that occurred 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 sale, the director now directly owns 51,244 shares in the company, valued at $5,739,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,232 shares of company stock valued at $2,839,047 over the last quarter. 0.54% of the stock is owned by company insiders.

Institutional Trading of CBRE Group

A number of hedge funds have recently added to or reduced their stakes in CBRE. American National Bank & Trust bought a new position in shares of CBRE Group in the 3rd quarter valued at $28,000. Benjamin F. Edwards & Company Inc. increased its holdings in CBRE Group by 190.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Crewe Advisors LLC bought a new position in CBRE Group in the first quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of CBRE Group during the third quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 283 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

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.