M.D. Sass LLC Sells 70,917 Shares of CBRE Group, Inc. (NYSE:CBRE)

M.D. Sass LLC cut its holdings in CBRE Group, Inc. (NYSE:CBRE) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 470,227 shares of the financial services provider’s stock after selling 70,917 shares during the period. CBRE Group comprises 4.3% of M.D. Sass LLC’s holdings, making the stock its 11th largest holding. M.D. Sass LLC owned approximately 0.15% of CBRE Group worth $58,534,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cetera Investment Advisers lifted its holdings in shares of CBRE Group by 500.1% in the 1st quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock worth $2,718,000 after acquiring an additional 23,290 shares during the last quarter. Bayesian Capital Management LP boosted its position in shares of CBRE Group by 138.8% during the first quarter. Bayesian Capital Management LP now owns 9,900 shares of the financial services provider’s stock valued at $963,000 after buying an additional 5,754 shares during the period. Czech National Bank grew its stake in shares of CBRE Group by 9.8% during the second quarter. Czech National Bank now owns 57,473 shares of the financial services provider’s stock valued at $5,121,000 after buying an additional 5,125 shares during the last quarter. Comerica Bank raised its holdings in shares of CBRE Group by 7.4% in the first quarter. Comerica Bank now owns 91,518 shares of the financial services provider’s stock worth $8,899,000 after buying an additional 6,337 shares during the period. Finally, Tidal Investments LLC boosted its holdings in CBRE Group by 188.0% during the 1st quarter. Tidal Investments LLC now owns 16,453 shares of the financial services provider’s stock valued at $1,599,000 after acquiring an additional 10,740 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CBRE. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Citigroup boosted their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Finally, Evercore ISI raised their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.00.

CBRE Group Stock Up 1.4 %

Shares of CBRE traded up $1.94 during mid-day trading on Tuesday, hitting $140.63. The company’s stock had a trading volume of 262,547 shares, compared to its average volume of 1,679,121. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average is $127.21 and its 200-day moving average is $109.17. CBRE Group, Inc. has a 52-week low of $78.18 and a 52-week high of $141.05. The firm has a market capitalization of $43.04 billion, a price-to-earnings ratio of 44.61 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that CBRE Group, Inc. will post 4.94 EPS for the current fiscal year.

Insider Activity at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the sale, the chief financial officer now owns 70,154 shares in the company, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.