CBRE Group, Inc. (NYSE:CBG) had its price objective upped by investment analysts at Barclays PLC from $40.00 to $42.00 in a note issued to investors on Tuesday, July 18th. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s target price indicates a potential upside of 12.54% from the company’s current price.
A number of other research firms have also weighed in on CBG. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, July 7th. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a report on Monday, April 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $36.00 price target on shares of CBRE Group in a report on Tuesday, May 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.40.
Shares of CBRE Group (CBG) opened at 37.32 on Tuesday. The stock’s 50 day moving average price is $36.73 and its 200 day moving average price is $34.80. CBRE Group has a one year low of $25.40 and a one year high of $38.99. The stock has a market capitalization of $12.58 billion, a P/E ratio of 18.21 and a beta of 1.83.
CBRE Group (NYSE:CBG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the business earned $0.52 EPS. CBRE Group’s revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that CBRE Group will post $2.57 EPS for the current year.
In other CBRE Group news, CEO William F. Concannon sold 15,000 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $36.57, for a total value of $548,550.00. Following the completion of the sale, the chief executive officer now directly owns 238,376 shares of the company’s stock, valued at $8,717,410.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gil Borok sold 25,627 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $37.33, for a total transaction of $956,655.91. Following the completion of the sale, the chief financial officer now directly owns 76,651 shares of the company’s stock, valued at $2,861,381.83. The disclosure for this sale can be found here. Insiders have sold a total of 75,627 shares of company stock valued at $2,822,306 over the last ninety days. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Cleararc Capital Inc. increased its stake in CBRE Group by 0.8% in the first quarter. Cleararc Capital Inc. now owns 7,343 shares of the financial services provider’s stock valued at $255,000 after buying an additional 56 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in CBRE Group by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 13,970 shares of the financial services provider’s stock worth $509,000 after buying an additional 93 shares during the last quarter. CIBC Asset Management Inc boosted its position in CBRE Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 29,272 shares of the financial services provider’s stock worth $1,066,000 after buying an additional 113 shares during the last quarter. Advantus Capital Management Inc boosted its position in CBRE Group by 0.4% in the first quarter. Advantus Capital Management Inc now owns 30,100 shares of the financial services provider’s stock worth $1,047,000 after buying an additional 125 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in CBRE Group by 0.3% in the first quarter. Arizona State Retirement System now owns 74,443 shares of the financial services provider’s stock worth $2,590,000 after buying an additional 200 shares during the last quarter. 96.36% of the stock is owned by institutional investors and hedge funds.
CBRE Group Company Profile
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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