CBRE Group (NYSE:CBRE) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CBRE Group (NYSE:CBRE) from a neutral rating to an overweight rating in a report published on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $163.00 price target on the financial services provider’s stock, up from their previous price target of $120.00.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Citigroup raised their target price on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group began coverage on CBRE Group in a report on Friday, December 6th. They issued a “buy” rating and a $176.00 price target for the company. Finally, Evercore ISI raised their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.33.

CBRE Group Stock Up 0.5 %

CBRE Group stock opened at $137.93 on Monday. The firm has a market capitalization of $42.21 billion, a P/E ratio of 44.35 and a beta of 1.39. The stock’s fifty day simple moving average is $132.06 and its 200-day simple moving average is $114.38. CBRE Group has a twelve month low of $82.75 and a twelve month high of $142.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. As a group, equities analysts expect that CBRE Group will post 4.99 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now owns 70,154 shares in the company, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after purchasing an additional 692,697 shares during the period. Geode Capital Management LLC increased its stake in CBRE Group by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock valued at $950,270,000 after buying an additional 56,888 shares during the period. FMR LLC raised its position in CBRE Group by 85.6% during the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after buying an additional 3,498,244 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of CBRE Group by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock worth $924,223,000 after acquiring an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of CBRE Group by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock valued at $763,909,000 after acquiring an additional 49,732 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Company Profile

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.