CBRE Group (NYSE:CBRE) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CBRE Group (NYSE:CBRE) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Other research analysts also recently issued research reports about the company. Morgan Stanley increased their price target on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Evercore ISI lowered their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Citigroup lifted their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group started coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 target price for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $149.89.

CBRE Group Price Performance

Shares of CBRE stock opened at $128.73 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. CBRE Group has a 12 month low of $84.24 and a 12 month high of $147.75. The firm has a market cap of $38.62 billion, a price-to-earnings ratio of 41.00 and a beta of 1.42. The stock has a 50-day moving average price of $137.21 and a 200 day moving average price of $131.44.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. Research analysts expect that CBRE Group will post 5.99 EPS for the current year.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $125.69, for a total value of $251,380.00. Following the sale, the chief financial officer now owns 107,343 shares in the company, valued at approximately $13,491,941.67. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chad J. Doellinger sold 797 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total transaction of $100,669.07. Following the transaction, the insider now directly owns 28,735 shares of the company’s stock, valued at $3,629,517.85. This represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CBRE Group

A number of large investors have recently modified their holdings of CBRE. Norges Bank bought a new stake in CBRE Group during the fourth quarter worth about $514,609,000. FMR LLC grew its stake in CBRE Group by 85.6% in the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock worth $531,736,000 after purchasing an additional 3,011,566 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of CBRE Group during the 4th quarter worth approximately $190,695,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group in the 4th quarter valued at approximately $175,978,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

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.