Citigroup Issues Positive Forecast for CBRE Group (NYSE:CBRE) Stock Price

CBRE Group (NYSE:CBRE) had its price target lifted by Citigroup from $130.00 to $160.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 13.93% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upped their price target 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. Evercore ISI upped their price target on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

CBRE Group Price Performance

NYSE:CBRE opened at $140.44 on Monday. CBRE Group has a one year low of $78.18 and a one year high of $141.05. The company has a market cap of $42.98 billion, a P/E ratio of 45.16 and a beta of 1.39. The firm’s fifty day moving average price is $127.66 and its two-hundred day moving average price is $109.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

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 firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Equities analysts expect that CBRE Group will post 4.94 earnings per share for the current year.

Insider Buying and Selling at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group 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 sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares in the company, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

A number of hedge funds have recently made changes to their positions in CBRE. Lazard Asset Management LLC raised its stake in shares of CBRE Group by 5,784.5% during the 1st quarter. Lazard Asset Management LLC now owns 6,473 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 6,363 shares during the period. Bayesian Capital Management LP raised its stake in shares of CBRE Group by 138.8% during the 1st quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 5,754 shares during the period. Janus Henderson Group PLC raised its stake in shares of CBRE Group by 2.1% during the 1st quarter. Janus Henderson Group PLC now owns 870,888 shares of the financial services provider’s stock worth $84,683,000 after purchasing an additional 18,275 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of CBRE Group by 46.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,969 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 1,256 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of CBRE Group by 1.1% during the 1st quarter. California State Teachers Retirement System now owns 523,426 shares of the financial services provider’s stock worth $50,898,000 after purchasing an additional 5,827 shares during the period. 98.41% of the stock is currently owned by 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.