CBRE Group (NYSE:CBRE) Upgraded at Wall Street Zen

Key Points

• CBRE Group has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased investor confidence in the company's stock.
• Several analysts have raised their price targets on CBRE Group, with UBS Group setting a target of $146, Evercore ISI at $164, and Morgan Stanley at $170, reflecting a positive outlook for the stock.
• CBRE Group reported a net income of $1.19 earnings per share, surpassing analysts' estimates, and had revenue of $9.75 billion for the quarter, indicating strong financial performance.

CBRE Group (NYSE:CBRE - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

CBRE has been the subject of several other research reports. UBS Group increased their price objective on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Evercore ISI upped their target price on shares of CBRE Group from $147.00 to $164.00 and gave the stock an "outperform" rating in a research note on Wednesday. Morgan Stanley reiterated an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. reduced their price objective on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Two investment 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 stock. Based on data from MarketBeat.com, CBRE Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.00.

CBRE Group Stock Down 1.2%

Shares of CBRE Group stock opened at $153.89 on Friday. The company has a market capitalization of $45.79 billion, a P/E ratio of 43.11 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.00. The business has a 50-day moving average of $137.49 and a two-hundred day moving average of $133.22. CBRE Group has a 1 year low of $105.17 and a 1 year high of $161.03.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The business had revenue of $9.75 billion during the quarter, compared to analysts' expectations of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. As a group, equities analysts predict that CBRE Group will post 5.99 EPS for the current year.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the transaction, the chief financial officer directly owned 105,371 shares in the company, valued at $13,603,396.10. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lindsey S. Caplan sold 1,935 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 20,131 shares in the company, valued at $2,818,340. This trade represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,031 shares of company stock valued at $1,139,304 in the last 90 days. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CBRE Group

Several large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its position in CBRE Group by 217.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider's stock worth $511,781,000 after acquiring an additional 2,680,337 shares in the last quarter. Nuveen LLC acquired a new position in shares of CBRE Group during the 1st quarter worth about $214,283,000. GAMMA Investing LLC increased its stake in shares of CBRE Group by 20,889.0% during the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider's stock worth $168,896,000 after purchasing an additional 1,285,300 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of CBRE Group by 8,046.9% in the 4th quarter. Bessemer Group Inc. now owns 1,140,315 shares of the financial services provider's stock valued at $149,710,000 after purchasing an additional 1,126,318 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in CBRE Group by 85.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,147,783 shares of the financial services provider's stock valued at $281,984,000 after purchasing an additional 991,354 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company's stock.

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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