Raymond James Raises CBRE Group (NYSE:CBRE) Price Target to $113.00

CBRE Group (NYSE:CBREGet Rating) had its price target increased by Raymond James from $110.00 to $113.00 in a research report released on Friday, Benzinga reports. They currently have a strong-buy rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on the company. StockNews.com cut CBRE Group from a buy rating to a hold rating in a report on Friday, July 15th. Evercore ISI set a $94.00 price objective on CBRE Group in a research report on Monday, June 20th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $109.80.

CBRE Group Trading Up 2.0 %

Shares of NYSE:CBRE opened at $83.97 on Friday. The stock has a 50 day moving average of $77.41 and a 200 day moving average of $85.91. The company has a current ratio of 1.14, a quick ratio of 1.20 and a debt-to-equity ratio of 0.36. CBRE Group has a 12-month low of $67.68 and a 12-month high of $111.00. The company has a market cap of $27.45 billion, a PE ratio of 14.09 and a beta of 1.38.

CBRE Group (NYSE:CBREGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.44. CBRE Group had a return on equity of 25.77% and a net margin of 6.59%. The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.72 billion. During the same period in the previous year, the firm earned $1.36 EPS. The firm’s revenue was up 20.3% compared to the same quarter last year. As a group, equities research analysts expect that CBRE Group will post 6.05 EPS for the current year.

Insider Buying and Selling

In related news, CEO Daniel G. Queenan sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $83.16, for a total transaction of $415,800.00. Following the completion of the sale, the chief executive officer now directly owns 188,841 shares in the company, valued at approximately $15,704,017.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CBRE Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its stake in CBRE Group by 11.2% in the second quarter. M&T Bank Corp now owns 34,504 shares of the financial services provider’s stock valued at $2,369,000 after buying an additional 3,480 shares during the last quarter. Pinebridge Investments L.P. raised its stake in CBRE Group by 122.2% in the second quarter. Pinebridge Investments L.P. now owns 578,613 shares of the financial services provider’s stock valued at $42,592,000 after buying an additional 318,241 shares during the last quarter. Pzena Investment Management LLC raised its stake in CBRE Group by 66.9% in the second quarter. Pzena Investment Management LLC now owns 363,826 shares of the financial services provider’s stock valued at $26,781,000 after buying an additional 145,848 shares during the last quarter. Gilbert & Cook Inc. raised its stake in CBRE Group by 15.5% in the second quarter. Gilbert & Cook Inc. now owns 3,373 shares of the financial services provider’s stock valued at $248,000 after buying an additional 453 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its stake in CBRE Group by 14.5% in the second quarter. Horizon Kinetics Asset Management LLC now owns 433,396 shares of the financial services provider’s stock valued at $31,902,000 after buying an additional 54,978 shares during the last quarter. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

About CBRE Group

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CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.

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