CBRE Group, Inc. (NYSE:CBG) had its price target lifted by equities researchers at Barclays PLC from $40.00 to $42.00 in a research note issued on Tuesday, July 18th. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s price objective would indicate a potential upside of 11.44% from the stock’s previous close.
CBG has been the subject of several other reports. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, July 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a research note on Tuesday, May 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a research note on Monday, April 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $39.40.
CBRE Group (CBG) traded down 0.58% on Tuesday, reaching $37.47. The company had a trading volume of 1,169,667 shares. CBRE Group has a 52-week low of $25.40 and a 52-week high of $38.99. The stock has a market capitalization of $12.62 billion, a PE ratio of 20.49 and a beta of 1.83. The stock has a 50 day moving average price of $36.49 and a 200 day moving average price of $34.60.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. CBRE Group had a net margin of 4.69% and a return on equity of 26.31%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. Analysts expect that CBRE Group will post $2.47 EPS for the current year.
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In other CBRE Group news, insider Michael J. Lafitte sold 15,000 shares of CBRE Group stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total value of $555,300.00. Following the transaction, the insider now owns 369,774 shares in the company, valued at approximately $13,689,033.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William F. Concannon sold 20,000 shares of CBRE Group stock in a transaction on Monday, July 24th. The shares were sold at an average price of $38.09, for a total transaction of $761,800.00. Following the completion of the transaction, the chief executive officer now owns 233,896 shares in the company, valued at approximately $8,909,098.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock worth $1,865,650. 1.00% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Paloma Partners Management Co raised its position in shares of CBRE Group by 1,236.6% in the first quarter. Paloma Partners Management Co now owns 100,188 shares of the financial services provider’s stock worth $3,485,000 after buying an additional 92,692 shares during the period. State of Tennessee Treasury Department raised its position in CBRE Group by 60.2% in the first quarter. State of Tennessee Treasury Department now owns 788,906 shares of the financial services provider’s stock valued at $27,446,000 after buying an additional 296,381 shares during the last quarter. Logan Capital Management Inc. raised its position in CBRE Group by 1.6% in the first quarter. Logan Capital Management Inc. now owns 239,634 shares of the financial services provider’s stock valued at $8,337,000 after buying an additional 3,885 shares during the last quarter. Legal & General Group Plc raised its position in CBRE Group by 5.2% in the first quarter. Legal & General Group Plc now owns 1,364,404 shares of the financial services provider’s stock valued at $47,464,000 after buying an additional 67,496 shares during the last quarter. Finally, RWC Asset Management LLP raised its position in CBRE Group by 60.3% in the first quarter. RWC Asset Management LLP now owns 393,273 shares of the financial services provider’s stock valued at $13,682,000 after buying an additional 147,982 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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