M.D. Sass LLC Decreases Stock Holdings in CBRE Group, Inc. $CBRE

M.D. Sass LLC reduced its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 290,485 shares of the financial services provider’s stock after selling 5,252 shares during the quarter. CBRE Group comprises 3.0% of M.D. Sass LLC’s portfolio, making the stock its 18th biggest holding. M.D. Sass LLC’s holdings in CBRE Group were worth $39,349,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Swiss RE Ltd. purchased a new stake in shares of CBRE Group during the 4th quarter worth approximately $25,000. Navalign LLC acquired a new stake in shares of CBRE Group in the 4th quarter worth approximately $29,000. Ascentis Independent Advisors purchased a new position in CBRE Group in the 1st quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new position in CBRE Group in the 1st quarter valued at approximately $33,000. Finally, Sound Income Strategies LLC raised its holdings 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 worth $36,000 after purchasing an additional 259 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

NYSE CBRE opened at $135.69 on Friday. CBRE Group, Inc. has a fifty-two week low of $121.69 and a fifty-two week high of $174.27. The stock has a market cap of $39.73 billion, a price-to-earnings ratio of 30.91 and a beta of 1.20. The business has a fifty day moving average of $134.17 and a 200-day moving average of $144.03. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.48. The business had revenue of $10.53 billion for the quarter, compared to the consensus estimate of $10.22 billion. CBRE Group had a return on equity of 24.08% and a net margin of 3.11%.The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, analysts predict that CBRE Group, Inc. will post 7.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CBRE has been the topic of several research reports. Weiss Ratings lowered CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Barclays lifted their price target on CBRE Group from $175.00 to $178.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Evercore set a $169.00 price objective on shares of CBRE Group in a research report on Tuesday, June 30th. UBS Group reissued a “buy” rating on shares of CBRE Group in a research note on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.86.

Insiders Place Their Bets

In related news, CFO Emma E. Giamartino sold 2,250 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $130.74, for a total value of $294,165.00. Following the completion of the transaction, the chief financial officer owned 110,729 shares of the company’s stock, valued at approximately $14,476,709.46. The trade was a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company’s stock.

About CBRE Group

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.