CBRE Group, Inc. (CBG) Reaches New 1-Year High at $41.96
CBRE Group, Inc. (NYSE:CBG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $41.96 and last traded at $41.53, with a volume of 3092000 shares changing hands. The stock had previously closed at $40.81.
CBG has been the subject of a number of recent analyst reports. Barclays PLC increased their target price on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a research report on Friday, July 21st. Bank of America Corporation increased their target price on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. BidaskClub lowered shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, UBS AG started coverage on shares of CBRE Group in a research report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. CBRE Group presently has an average rating of “Hold” and an average target price of $40.33.
The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $14,318.38, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.22 and a beta of 1.83.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. analysts anticipate that CBRE Group, Inc. will post 2.67 earnings per share for the current year.
In other news, insider Michael J. Lafitte sold 27,775 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $35.71, for a total transaction of $991,845.25. Following the completion of the transaction, the insider now owns 308,567 shares in the company, valued at approximately $11,018,927.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Laurence H. Midler sold 3,139 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $36.00, for a total transaction of $113,004.00. Following the sale, the executive vice president now directly owns 90,541 shares of the company’s stock, valued at $3,259,476. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,634,713 shares of company stock valued at $202,642,013. Insiders own 1.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Invictus RG purchased a new stake in CBRE Group during the third quarter valued at about $104,000. GQG Partners LLC purchased a new stake in CBRE Group during the second quarter valued at about $122,000. BB&T Investment Services Inc. purchased a new stake in CBRE Group during the second quarter valued at about $125,000. Zions Bancorporation lifted its stake in CBRE Group by 5,136.8% during the third quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after buying an additional 3,493 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new stake in CBRE Group during the third quarter valued at about $193,000. 95.65% of the stock is owned by institutional investors.
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About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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