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

CBRE Group, Inc. (NYSE:CBRE)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $125.51 and last traded at $125.31, with a volume of 1012753 shares changing hands. The stock had previously closed at $124.37.

Analyst Ratings Changes

CBRE has been the subject of several recent research reports. UBS Group reduced their price target 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. Evercore ISI boosted their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley assumed coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Finally, Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, CBRE Group has an average rating of “Moderate Buy” and a consensus price target of $113.83.

CBRE Group Stock Performance

The company has a market cap of $38.33 billion, a PE ratio of 38.63 and a beta of 1.40. 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 firm’s 50-day simple moving average is $117.51 and its two-hundred day simple moving average is $100.77.

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

Insider Activity at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction on 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 directly owns 217,094 shares in the company, valued at $24,894,168.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the company’s 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 completion of the transaction, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction 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 $24,894,168.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,232 shares of company stock worth $3,058,787 in the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in CBRE Group by 0.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,068 shares of the financial services provider’s stock worth $4,116,000 after purchasing an additional 206 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of CBRE Group by 6.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,845 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 314 shares in the last quarter. Wolff Wiese Magana LLC boosted its position in shares of CBRE Group by 2,830.0% during the 3rd 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 in the last quarter. Asset Dedication LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth $40,000. Finally, NBC Securities Inc. raised its stake in shares of CBRE Group by 2.1% during the 3rd quarter. NBC Securities Inc. now owns 10,917 shares of the financial services provider’s stock worth $1,358,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors 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.