Analysts Set CBRE Group, Inc. (CBG) Price Target at $39.60

Shares of CBRE Group, Inc. (NYSE:CBG) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $39.60.

CBG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, July 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a research note on Friday, July 21st. UBS AG initiated coverage on CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a research note on Wednesday, August 2nd. Finally, Barclays PLC increased their target price on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th.

Shares of CBRE Group (NYSE:CBG) traded down 0.56% on Wednesday, hitting $39.37. 653,263 shares of the company traded hands. CBRE Group has a 1-year low of $25.40 and a 1-year high of $40.35. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 19.21 and a beta of 1.82. The firm’s 50 day moving average price is $38.35 and its 200-day moving average price is $36.40.

CBRE Group (NYSE:CBG) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that CBRE Group will post $2.57 earnings per share for the current year.

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In other news, insider Valueact Capital Master Fund, sold 5,500,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.90, for a total transaction of $197,450,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 25,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $40.04, for a total value of $1,001,000.00. Following the transaction, the insider now directly owns 246,473 shares in the company, valued at approximately $9,868,778.92. The disclosure for this sale can be found here. Insiders have sold a total of 5,732,094 shares of company stock worth $206,038,877 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aviva PLC boosted its position in CBRE Group by 1.5% during the second quarter. Aviva PLC now owns 181,175 shares of the financial services provider’s stock valued at $6,595,000 after purchasing an additional 2,720 shares in the last quarter. Hosking Partners LLP boosted its position in CBRE Group by 1.6% during the second quarter. Hosking Partners LLP now owns 2,425,070 shares of the financial services provider’s stock valued at $88,273,000 after purchasing an additional 38,977 shares in the last quarter. Calamos Advisors LLC boosted its position in CBRE Group by 47.9% during the second quarter. Calamos Advisors LLC now owns 165,516 shares of the financial services provider’s stock valued at $6,025,000 after purchasing an additional 53,616 shares in the last quarter. Balyasny Asset Management LLC boosted its position in CBRE Group by 57.8% during the second quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock valued at $3,686,000 after purchasing an additional 37,092 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position in CBRE Group by 347.4% during the second quarter. Commonwealth Bank of Australia now owns 21,364 shares of the financial services provider’s stock valued at $776,000 after purchasing an additional 16,589 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Company Profile

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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