CBRE Group (NYSE:CBRE) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of CBRE Group (NYSE:CBRE) in a report released on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $176.00 price objective on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Citigroup lifted their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI lifted their price target on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods increased their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Wolfe Research raised shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.63.

CBRE Group Stock Performance

CBRE Group stock opened at $137.88 on Friday. The stock has a market cap of $42.19 billion, a PE ratio of 44.33 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $129.97 and its two-hundred day moving average price is $111.60. CBRE Group has a 12-month low of $80.97 and a 12-month high of $142.00.

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

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of CBRE Group by 500.1% in the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after purchasing an additional 23,290 shares in the last quarter. Algert Global LLC bought a new position in CBRE Group in the 3rd quarter worth approximately $1,829,000. Czech National Bank grew its stake in CBRE Group by 9.8% in the 2nd quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock valued at $5,121,000 after buying an additional 5,125 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CBRE Group by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,876,724 shares of the financial services provider’s stock valued at $233,615,000 after acquiring an additional 16,202 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of CBRE Group by 6.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider’s stock worth $28,810,000 after acquiring an additional 20,717 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

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.