Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for CBRE Group (NYSE:CBRE) Stock

CBRE Group (NYSE:CBRE - Get Free Report) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $131.00 to $147.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 0.87% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the company. UBS Group raised their target price on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. 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. cut their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley restated an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a research note on Thursday, June 12th. Finally, Evercore ISI lifted their price objective on shares of CBRE Group from $143.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.56.

CBRE Group Stock Performance

CBRE stock traded up $1.10 during mid-day trading on Thursday, reaching $145.73. The company had a trading volume of 618,865 shares, compared to its average volume of 1,810,386. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $43.44 billion, a P/E ratio of 44.57 and a beta of 1.30. CBRE Group has a one year low of $103.05 and a one year high of $147.75. The stock's 50-day simple moving average is $133.86 and its two-hundred day simple moving average is $132.04.

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

Insider Buying and Selling

In other CBRE Group news, insider Chad J. Doellinger sold 494 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total transaction of $62,268.70. Following the completion of the sale, the insider directly owned 27,945 shares in the company, valued at approximately $3,522,467.25. This trade represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $129.10, for a total value of $254,585.20. Following the sale, the chief financial officer 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. In the last quarter, insiders have sold 6,031 shares of company stock valued at $814,080. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CBRE Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in shares of CBRE Group by 4.8% during the first quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider's stock valued at $1,042,317,000 after purchasing an additional 368,214 shares during the period. Geode Capital Management LLC increased its position in shares of CBRE Group by 3.2% during the fourth 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 purchasing an additional 245,821 shares during the period. Invesco Ltd. increased its position in shares of CBRE Group by 6.6% during the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider's stock valued at $837,938,000 after purchasing an additional 397,818 shares during the period. Franklin Resources Inc. increased its position in shares of CBRE Group by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider's stock valued at $538,390,000 after purchasing an additional 605,403 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of CBRE Group by 290.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock valued at $531,736,000 after purchasing an additional 3,011,566 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

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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