CBRE Group (NYSE:CBRE) Sets New 1-Year High – Time to Buy?

CBRE Group, Inc. (NYSE:CBRE) shares reached a new 52-week high on Wednesday . The company 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 Upgrades and Downgrades

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

CBRE Group Stock Down 3.9 %

The business’s 50 day moving average price is $122.33 and its 200-day moving average price is $104.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $39.60 billion, a PE ratio of 43.32 and a beta of 1.39.

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, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that CBRE Group, Inc. will post 5.03 earnings per share for the current year.

Insider Activity at CBRE Group

In other news, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, 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 through this hyperlink. Also, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the sale, the chief operating officer now directly owns 69,226 shares in the company, valued at $7,538,019.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,232 shares of company stock worth $2,839,047 in the last three months. 0.54% of the stock is owned by company insiders.

Institutional Trading of CBRE Group

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of CBRE Group by 2.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,355 shares of the financial services provider’s stock valued at $8,689,000 after purchasing an additional 1,869 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of CBRE Group during the 1st quarter worth about $336,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in CBRE Group by 75.0% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,102 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 6,471 shares during the last quarter. Duality Advisers LP raised its holdings in CBRE Group by 226.0% during the first quarter. Duality Advisers LP now owns 10,001 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 6,933 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in shares of CBRE Group by 3.2% during the 1st quarter. Empirical Finance LLC now owns 11,502 shares of the financial services provider’s stock worth $1,118,000 after buying an additional 362 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other 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.