Brokerages Set CBRE Group, Inc. (NYSE:CBRE) Price Target at $123.00

CBRE Group, Inc. (NYSE:CBRE) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $129.63.

Several equities research analysts have weighed in on CBRE shares. Evercore ISI increased their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup upped their price objective on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group started coverage on shares of CBRE Group in a report on Friday. They set a “buy” rating and a $176.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th.

CBRE Group Trading Up 1.1 %

CBRE Group stock opened at $137.88 on Monday. The stock has a 50-day moving average price of $129.97 and a 200 day moving average price of $111.60. The company has a market capitalization of $42.19 billion, a price-to-earnings ratio of 44.33 and a beta of 1.39. CBRE Group has a 52 week low of $80.97 and a 52 week high of $142.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts anticipate that CBRE Group will post 4.99 EPS for the current year.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in shares of CBRE Group by 500.1% during the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after buying an additional 23,290 shares in the last quarter. Algert Global LLC acquired a new position in CBRE Group during the third quarter worth about $1,829,000. Czech National Bank grew its stake in CBRE Group by 9.8% during the 2nd quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock valued at $5,121,000 after acquiring an additional 5,125 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CBRE Group by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,876,724 shares of the financial services provider’s stock valued at $233,615,000 after acquiring an additional 16,202 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in CBRE Group by 6.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider’s stock worth $28,810,000 after purchasing an additional 20,717 shares in the last quarter. 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.