CBRE Group (NYSE:CBRE) Sets New 52-Week Low – Here’s What Happened

CBRE Group, Inc. (NYSE:CBRE)’s share price hit a new 52-week low during trading on Monday. The company traded as low as $121.51 and last traded at $121.8350, with a volume of 999,977 shares traded. The stock had previously closed at $123.30.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of CBRE Group from $180.00 to $164.00 in a report on Monday, October 12th. Weiss Ratings restated a “hold (c+)” rating on shares of CBRE Group in a research report on Friday, August 21st. Barclays lifted their price objective on CBRE Group from $180.00 to $183.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Evercore dropped their target price on CBRE Group from $175.00 to $166.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on CBRE Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and a consensus target price of $185.44.

CBRE Group Price Performance

The company has a 50 day moving average price of $137.84 and a 200 day moving average price of $142.53. The firm has a market cap of $35.46 billion, a PE ratio of 26.38 and a beta of 1.23. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

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

Insider Activity at CBRE Group

In related news, CFO Emma Giamartino sold 2,250 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 108,479 shares of the company’s stock, valued at approximately $16,086,350.91. This represents a 2.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chad J. Doellinger sold 228 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $148.29, for a total value of $33,810.12. Following the sale, the insider owned 41,778 shares in the company, valued at approximately $6,195,259.62. This trade represents a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CBRE Group

Several hedge funds have recently bought and sold shares of CBRE. Principal Financial Group Inc. grew its stake in CBRE Group by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider’s stock worth $1,337,051,000 after acquiring an additional 302,426 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CBRE Group by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,896,802 shares of the financial services provider’s stock valued at $392,368,000 after purchasing an additional 159,482 shares during the period. Swedbank AB grew its stake in shares of CBRE Group by 119.6% during the first quarter. Swedbank AB now owns 2,571,280 shares of the financial services provider’s stock valued at $348,306,000 after acquiring an additional 1,400,452 shares in the last quarter. Sei Investments Co. grew its position in shares of CBRE Group by 8.7% during the first quarter. Sei Investments Co. now owns 2,181,413 shares of the financial services provider’s stock worth $295,494,000 after buying an additional 175,344 shares in the last quarter. Finally, Amundi increased its holdings in CBRE Group by 12.1% in the first quarter. Amundi now owns 1,906,456 shares of the financial services provider’s stock valued at $258,249,000 after buying an additional 205,493 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

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.