CBRE Group (NYSE:CBRE) Rating Increased to Overweight at JPMorgan Chase & Co.

CBRE Group (NYSE:CBRE) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Monday, Marketbeat.com reports. The firm currently has a $163.00 price target on the financial services provider’s stock, up from their previous price target of $120.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 19.99% from the company’s previous close.

CBRE has been the topic of a number of other research reports. Citigroup upped their price target on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI upped their target price on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group began coverage on CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 price target on the stock. Five analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.33.

CBRE Group Price Performance

Shares of CBRE opened at $135.85 on Monday. The company has a 50 day moving average of $132.36 and a two-hundred day moving average of $114.71. 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 has a twelve month low of $82.75 and a twelve month high of $142.00. The company has a market cap of $41.57 billion, a price-to-earnings ratio of 43.68 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 the consensus estimate 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 period in the prior year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that CBRE Group will post 4.99 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CBRE Group

A number of institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of CBRE Group by 85.6% during the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in CBRE Group by 60.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after acquiring an additional 993,963 shares during the last quarter. State Street Corp raised its position in CBRE Group by 5.4% in the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock valued at $1,672,204,000 after purchasing an additional 692,697 shares during the period. Eminence Capital LP lifted its stake in shares of CBRE Group by 42.6% in the 2nd quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after purchasing an additional 453,406 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of CBRE Group during the 2nd quarter worth $36,820,000. 98.41% of the stock is owned by hedge funds and other 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.