CBRE Group (NYSE:CBRE) Hits New 1-Year High on Analyst Upgrade

Key Points

• CBRE Group reached a new 52-week high of $147.98 after analyst Raymond James Financial upgraded its price target from $163.00 to $166.00, maintaining an "outperform" rating.
• Multiple analysts have recently raised their price targets for CBRE Group, with the stock receiving several ratings of "buy" and a consensus rating of "Moderate Buy" with an average target price of $156.11.
• Insider trading activity has been noted, including the CAO selling 1,935 shares, reducing their ownership by 8.77%, and CFO also selling shares, signaling possible caution among leadership.

CBRE Group, Inc. (NYSE:CBRE - Get Free Report)'s stock price hit a new 52-week high during trading on Friday after Raymond James Financial raised their price target on the stock from $163.00 to $166.00. Raymond James Financial currently has an outperform rating on the stock. CBRE Group traded as high as $147.98 and last traded at $147.66, with a volume of 1202132 shares traded. The stock had previously closed at $144.59.

Several other analysts also recently commented on CBRE. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research note on Thursday. Evercore ISI raised their price target on shares of CBRE Group from $143.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen cut shares of CBRE Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. JPMorgan Chase & Co. decreased their target price on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, UBS Group raised their target price on shares of CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $156.11.

Insider Transactions at CBRE Group

In related news, CAO Lindsey S. Caplan sold 1,935 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total value of $270,900.00. Following the completion of the sale, the chief accounting officer directly owned 20,131 shares of the company's stock, valued at approximately $2,818,340. This represents a 8.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the sale, the chief financial officer directly owned 105,371 shares of the company's stock, valued at $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,031 shares of company stock valued at $814,080 over the last ninety days. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock worth $1,042,317,000 after purchasing an additional 368,214 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CBRE Group by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider's stock valued at $1,035,229,000 after acquiring an additional 245,821 shares during the last quarter. Invesco Ltd. boosted its position in shares of CBRE Group by 6.6% during the 1st quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock valued at $837,938,000 after acquiring an additional 397,818 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of CBRE Group by 17.3% during the 4th quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider's stock valued at $538,390,000 after acquiring an additional 605,403 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted 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 valued at $531,736,000 after acquiring an additional 3,011,566 shares during the last quarter. Institutional investors own 98.41% of the company's stock.

CBRE Group Stock Up 2.1%

The stock has a 50-day moving average of $134.15 and a two-hundred day moving average of $132.12. The company has a market cap of $44.02 billion, a P/E ratio of 45.16 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. The company had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. On average, research analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

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.

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