CBRE Group (NYSE:CBRE) Share Price Breaks Above 50-Day Moving Average – What’s Next?

CBRE Group, Inc. (NYSE:CBRE) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $136.08 and traded as high as $138.51. CBRE Group shares last traded at $136.7910, with a volume of 2,770,546 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore dropped their price objective on CBRE Group from $175.00 to $166.00 and set an “outperform” rating for the company in a report on Monday, September 28th. Keefe, Bruyette & Woods cut their price target on shares of CBRE Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. JPMorgan Chase & Co. reduced their price target on shares of CBRE Group from $190.00 to $186.00 in a research note on Tuesday, October 13th. UBS Group raised their price target on shares of CBRE Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Barclays lifted their price objective on shares of CBRE Group from $180.00 to $183.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $185.44.

CBRE Group Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a fifty day moving average of $136.08 and a two-hundred day moving average of $141.80. The stock has a market capitalization of $39.42 billion, a P/E ratio of 29.29 and a beta of 1.23.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. CBRE Group had a net margin of 3.08% and a return on equity of 26.31%. The business had revenue of $11.52 billion for the quarter, compared to the consensus estimate of $11.81 billion. During the same quarter last year, the firm posted $1.61 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that CBRE Group, Inc. will post 7.76 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $333,652.50. Following the transaction, the chief financial officer directly owned 108,479 shares in the company, valued at approximately $16,086,350.91. This trade represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad Doellinger sold 228 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $148.29, for a total value of $33,810.12. Following the completion of the transaction, the insider directly owned 41,778 shares of the company’s stock, valued at approximately $6,195,259.62. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.46% of the company’s stock.

Institutional Trading of CBRE Group

Several hedge funds have recently modified their holdings of the company. Ascentis Independent Advisors purchased a new position in shares of CBRE Group in the 1st quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC bought a new position in shares of CBRE Group during the 1st quarter worth approximately $33,000. Brown Lisle Cummings Inc. lifted its position in CBRE Group by 511.9% during the third quarter. Brown Lisle Cummings Inc. now owns 257 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 215 shares during the last quarter. Sound Income Strategies LLC lifted its position in CBRE Group by 5,180.0% during the first quarter. Sound Income Strategies LLC now owns 264 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 259 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new stake in CBRE Group in the second quarter valued at approximately $39,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

About CBRE Group

CBRE Group, Inc (NYSE:CBRE) is a global commercial real estate services and investment firm. The company provides advisory, transaction, property management, facilities management, project management, valuation, and consulting services to corporate, institutional, and other real estate clients.

Its businesses support the acquisition, development, leasing, operation, and disposition of commercial properties across sectors such as office, industrial and logistics, retail, multifamily, hospitality, and data centers.