CBRE Group (NYSE:CBRE) Hits New 12-Month High at $112.39

Shares of CBRE Group, Inc. (NYSE:CBRE) reached a new 52-week high on Wednesday . The stock traded as high as $112.39 and last traded at $111.08, with a volume of 39411 shares. The stock had previously closed at $112.00.

Analyst Upgrades and Downgrades

CBRE has been the topic of a number of research reports. Jefferies Financial Group started coverage on CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price objective on the stock. Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $100.00 to $123.00 in a research note on Friday, July 26th. UBS Group cut their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley initiated coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.86.

CBRE Group Stock Up 1.2 %

The company has a 50 day moving average of $91.42 and a 200-day moving average of $90.44. 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 company has a market cap of $34.72 billion, a P/E ratio of 34.58 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. CBRE Group’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, equities analysts predict that CBRE Group, Inc. will post 4.83 earnings per share for the current year.

Insider Transactions at CBRE Group

In related news, CAO Lindsey S. Caplan sold 2,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total value of $219,740.00. Following the transaction, the chief accounting officer now owns 16,606 shares of the company’s stock, valued at $1,824,501.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CBRE Group

Several institutional investors have recently modified their holdings of the company. Harris Associates L P grew its position in CBRE Group by 4.5% during the fourth 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 last quarter. Principal Financial Group Inc. raised its position in CBRE Group by 3.0% in the 2nd quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after purchasing an additional 210,004 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in CBRE Group by 0.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock worth $542,419,000 after purchasing an additional 53,142 shares during the last quarter. Cantillon Capital Management LLC boosted its position in CBRE Group by 13.1% during the fourth quarter. Cantillon Capital Management LLC now owns 5,215,510 shares of the financial services provider’s stock valued at $485,512,000 after buying an additional 603,771 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after buying an additional 2,799,097 shares during the last quarter. 98.41% of the stock is currently 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.