CBRE Group (NYSE:CBRE) Raised to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of CBRE Group (NYSE:CBRE) from an equal weight rating to an overweight rating in a report released on Wednesday, MarketBeat reports. The firm currently has $160.00 target price on the financial services provider’s stock, up from their previous target price of $115.00.

A number of other brokerages also recently weighed in on CBRE. Evercore ISI cut their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective for the company. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and raised their target price for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Finally, 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 report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.44.

CBRE Group Stock Performance

CBRE stock opened at $131.55 on Wednesday. The firm has a 50 day moving average of $133.32 and a two-hundred day moving average of $120.55. CBRE Group has a 12 month low of $82.75 and a 12 month high of $142.00. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 42.30 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.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (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 net margin of 2.79% and a return on equity of 13.91%. CBRE Group’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. As a group, equities analysts anticipate that CBRE Group will post 4.99 EPS for the current fiscal year.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated 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 directly owns 70,154 shares in the company, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

Institutional Trading of CBRE Group

Institutional investors have recently modified their holdings of the company. Aaron Wealth Advisors LLC raised its stake in shares of CBRE Group by 14.7% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,136 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 274 shares in the last quarter. Shelton Wealth Management LLC increased its holdings in CBRE Group by 2.9% in the 4th quarter. Shelton Wealth Management LLC now owns 7,660 shares of the financial services provider’s stock valued at $1,006,000 after buying an additional 214 shares during the period. Premier Path Wealth Partners LLC raised its stake in shares of CBRE Group by 6.5% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,786 shares of the financial services provider’s stock valued at $366,000 after buying an additional 169 shares in the last quarter. Integrated Investment Consultants LLC lifted its holdings in shares of CBRE Group by 4.8% during the 4th quarter. Integrated Investment Consultants LLC now owns 3,007 shares of the financial services provider’s stock worth $395,000 after acquiring an additional 137 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of CBRE Group during the 4th quarter valued at about $256,000. 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.