Lazard Asset Management LLC Sells 4,300 Shares of CBRE Group, Inc. $CBRE

Lazard Asset Management LLC reduced its stake in CBRE Group, Inc. (NYSE:CBRE) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,125,703 shares of the financial services provider’s stock after selling 4,300 shares during the period. Lazard Asset Management LLC owned 0.38% of CBRE Group worth $152,488,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Swiss RE Ltd. acquired a new stake in shares of CBRE Group in the 4th quarter valued at about $25,000. Navalign LLC acquired a new position in CBRE Group during the 4th quarter worth approximately $29,000. Ascentis Independent Advisors bought a new position in CBRE Group in the first quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC bought a new position in CBRE Group in the first quarter worth approximately $33,000. Finally, Sound Income Strategies LLC grew its stake in CBRE Group by 5,180.0% in 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 period. Institutional investors and hedge funds own 98.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CBRE shares. Weiss Ratings downgraded CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. UBS Group reissued a “buy” rating on shares of CBRE Group in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Evercore set a $169.00 price objective on shares of CBRE Group in a report on Tuesday, June 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of CBRE Group in a research note on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,250 shares of the company’s stock in a transaction on 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 sale, the chief financial officer owned 110,729 shares in the company, valued at $14,476,709.46. This represents a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by corporate insiders.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $139.50 on Monday. CBRE Group, Inc. has a 52 week low of $121.69 and a 52 week high of $174.27. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $134.36 and a 200-day moving average price of $143.85. The company has a market cap of $40.85 billion, a PE ratio of 31.78 and a beta of 1.20.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.48. The business had revenue of $10.53 billion during 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%.CBRE Group’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Equities analysts anticipate that CBRE Group, Inc. will post 7.75 earnings per share for the current fiscal year.

CBRE Group Profile

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.