CBRE Group (NYSE:CBRE) Stock Rating Upgraded by JPMorgan Chase & Co.

CBRE Group (NYSE:CBRE) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $163.00 target price on the financial services provider’s stock, up from their previous target price of $120.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 18.72% from the stock’s current price.

Several other brokerages also recently issued reports on CBRE. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Evercore ISI increased 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. Finally, Citigroup upped their price objective on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $133.33.

CBRE Group Price Performance

Shares of NYSE:CBRE opened at $137.30 on Monday. CBRE Group has a one year low of $82.75 and a one year high of $142.00. The stock has a market cap of $42.02 billion, a PE ratio of 44.15 and a beta of 1.39. The business’s fifty day moving average price is $131.69 and its two-hundred day moving average price is $114.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.91% and a net margin of 2.79%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. On average, analysts forecast that CBRE Group will post 4.99 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CBRE. State Street Corp raised its position in shares of CBRE Group by 5.4% during the 3rd 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 boosted its position in CBRE Group by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,658,495 shares of the financial services provider’s stock worth $950,270,000 after acquiring an additional 56,888 shares during the period. FMR LLC raised its stake in shares of CBRE Group by 85.6% during the third quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after purchasing an additional 3,498,244 shares in the last quarter. Principal Financial Group Inc. increased its stake in CBRE Group by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after buying an additional 277,922 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of CBRE Group by 0.8% during 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 during the period. Institutional investors own 98.41% of the company’s stock.

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.