CBRE Group (NYSE:CBRE) Hits New 52-Week High – Here’s What Happened

CBRE Group, Inc. (NYSE:CBRE)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $138.91 and last traded at $138.85, with a volume of 18870 shares. The stock had previously closed at $135.43.

Wall Street Analyst Weigh In

CBRE has been the topic of several research reports. Keefe, Bruyette & Woods increased 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. Evercore ISI lifted their price objective on 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 raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.83.

CBRE Group Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $42.71 billion, a price-to-earnings ratio of 43.55 and a beta of 1.39. The company’s 50-day simple moving average is $126.83 and its 200-day simple moving average is $108.80.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share 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 during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that CBRE Group, Inc. will post 4.94 EPS for the current year.

Insider Activity at CBRE Group

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in CBRE Group by 4.7% in the third quarter. Lindbrook Capital LLC now owns 1,750 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 79 shares during the period. Stephens Inc. AR lifted its holdings in shares of CBRE Group by 3.1% in the 3rd quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 80 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in CBRE Group by 2.1% in the 3rd quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 82 shares in the last quarter. Private Advisor Group LLC raised its position in CBRE Group by 1.2% in the 3rd quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock valued at $957,000 after buying an additional 90 shares during the last quarter. Finally, Community Bank & Trust Waco Texas raised its holdings in shares of CBRE Group by 0.6% in the third quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock valued at $1,902,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

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.