CBRE Group, Inc. (CBG) Price Target Increased to $42.00 by Analysts at Barclays PLC
CBRE Group, Inc. (NYSE:CBG) had its target price hoisted by Barclays PLC from $40.00 to $42.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s target price indicates a potential upside of 13.76% from the company’s previous close.
Several other analysts have also recently issued reports on the company. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, July 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $36.00 target price on shares of CBRE Group in a research report on Tuesday, May 30th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 target price on shares of CBRE Group in a research report on Monday, April 17th.
Shares of CBRE Group (NYSE CBG) traded up 0.68% during mid-day trading on Tuesday, hitting $37.17. The stock had a trading volume of 500,605 shares. CBRE Group has a 12 month low of $25.40 and a 12 month high of $37.47. The company has a market cap of $12.52 billion, a PE ratio of 20.32 and a beta of 1.83. The stock’s 50-day moving average is $34.98 and its 200 day moving average is $33.86.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.10. CBRE Group had a return on equity of 26.31% and a net margin of 4.69%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the business posted $0.36 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that CBRE Group will post $2.42 earnings per share for the current fiscal year.
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In related news, insider Michael J. Lafitte sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $37.02, for a total transaction of $555,300.00. Following the completion of the transaction, the insider now directly owns 369,774 shares of the company’s stock, valued at $13,689,033.48. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Trust Department MB Financial Bank N A raised its stake in CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the financial services provider’s stock valued at $108,000 after buying an additional 2,094 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in CBRE Group during the first quarter valued at about $116,000. Harbour Capital Advisors LLC bought a new stake in CBRE Group during the first quarter valued at about $118,000. Parallel Advisors LLC bought a new stake in CBRE Group during the fourth quarter valued at about $117,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in CBRE Group by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,343 shares of the financial services provider’s stock valued at $115,000 after buying an additional 391 shares during the last quarter. 96.11% of the stock is 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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