CBRE Group (NYSE:CBRE) Price Target Raised to $170.00 at Morgan Stanley

CBRE Group (NYSE:CBRE) had its price objective lifted by Morgan Stanley from $160.00 to $170.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

CBRE has been the subject of a number of other reports. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Friday, June 6th. JPMorgan Chase & Co. lowered 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. UBS Group reduced their price target on CBRE Group from $146.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods raised their price objective on CBRE Group from $129.00 to $131.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.33.

CBRE Group Stock Performance

Shares of CBRE stock opened at $135.45 on Thursday. The firm has a market capitalization of $40.38 billion, a PE ratio of 43.14 and a beta of 1.29. The company has a 50 day moving average price of $123.81 and a 200-day moving average price of $131.19. CBRE Group has a 52 week low of $85.74 and a 52 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.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The firm had revenue of $8.91 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same period in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that CBRE Group will post 5.99 earnings per share for the current year.

Insider Activity at CBRE Group

In related news, insider Chad J. Doellinger sold 494 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total value of $62,268.70. Following the sale, the insider now owns 27,945 shares in the company, valued at approximately $3,522,467.25. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total transaction of $251,380.00. Following the sale, the chief financial officer now owns 107,343 shares in the company, valued at $13,491,941.67. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,599 shares of company stock valued at $584,980. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On CBRE Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of CBRE Group in the fourth quarter worth approximately $36,643,000. LPL Financial LLC raised its holdings in CBRE Group by 69.1% in the fourth quarter. LPL Financial LLC now owns 69,863 shares of the financial services provider’s stock worth $9,172,000 after purchasing an additional 28,547 shares in the last quarter. Allworth Financial LP lifted its position in CBRE Group by 47.2% during the fourth quarter. Allworth Financial LP now owns 636 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 204 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of CBRE Group during the fourth quarter worth $1,132,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of CBRE Group by 11.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 487,133 shares of the financial services provider’s stock worth $63,956,000 after purchasing an additional 51,964 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

About CBRE Group

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.