Keefe, Bruyette & Woods Lowers CBRE Group (NYSE:CBRE) Price Target to $129.00

CBRE Group (NYSE:CBRE) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $145.00 to $129.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 10.17% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Raymond James downgraded shares of CBRE Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $155.00 to $152.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their target price on CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the company from $133.00 to $152.00 in a research report on Thursday, January 2nd. Morgan Stanley lifted their price target on CBRE Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and an average price target of $149.56.

CBRE Group Price Performance

Shares of CBRE opened at $117.09 on Thursday. The company has a market cap of $35.11 billion, a P/E ratio of 37.29 and a beta of 1.26. CBRE Group has a fifty-two week low of $84.24 and a fifty-two week high of $147.75. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average price is $130.98 and its 200 day moving average price is $132.09.

CBRE Group (NYSE:CBRE) last released its earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, research analysts forecast that CBRE Group will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $125.69, for a total transaction of $251,380.00. Following the completion of the transaction, the chief financial officer now directly owns 107,343 shares of the company’s stock, valued at approximately $13,491,941.67. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chad J. Doellinger sold 797 shares of CBRE Group stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the sale, the insider now owns 28,735 shares in the company, valued at approximately $3,629,517.85. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of CBRE Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in CBRE Group in the fourth quarter valued at about $514,609,000. Artisan Partners Limited Partnership increased its stake in CBRE Group by 290.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after purchasing an additional 3,011,566 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in CBRE Group during the fourth quarter worth $190,695,000. Manning & Napier Advisors LLC purchased a new stake in CBRE Group during the fourth quarter worth $175,978,000. Finally, GAMMA Investing LLC grew its holdings in CBRE Group by 20,889.0% in the first quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider’s stock valued at $168,896,000 after purchasing an additional 1,285,300 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

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.