M.D. Sass LLC Cuts Stake in CBRE Group, Inc. (NYSE:CBRE)

Key Points

• M.D. Sass LLC reduced its stake in CBRE Group, Inc. by 2.0%, holding 377,417 shares worth approximately $49.4 million at the end of the first quarter.
• CBRE Group reported earnings per share (EPS) of $1.19 for the last quarter, surpassing expectations, along with a revenue of $9.75 billion.
• Major analysts have raised their target prices for CBRE stock, with Morgan Stanley setting a new target of $170.00 and others suggesting a consensus price target of $158.00.

M.D. Sass LLC cut its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,417 shares of the financial services provider's stock after selling 7,804 shares during the period. CBRE Group accounts for 4.3% of M.D. Sass LLC's holdings, making the stock its 13th largest position. M.D. Sass LLC owned about 0.13% of CBRE Group worth $49,359,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia lifted its position in CBRE Group by 151.8% during the first quarter. Bank of Nova Scotia now owns 117,338 shares of the financial services provider's stock worth $15,345,000 after buying an additional 70,734 shares in the last quarter. R Squared Ltd lifted its position in CBRE Group by 124.2% during the first quarter. R Squared Ltd now owns 1,630 shares of the financial services provider's stock worth $213,000 after buying an additional 903 shares in the last quarter. Commerce Bank lifted its position in CBRE Group by 102.9% during the first quarter. Commerce Bank now owns 389,791 shares of the financial services provider's stock worth $50,977,000 after buying an additional 197,645 shares in the last quarter. American Assets Investment Management LLC purchased a new position in CBRE Group during the first quarter worth approximately $1,385,000. Finally, Private Advisory Group LLC lifted its position in CBRE Group by 7.6% during the first quarter. Private Advisory Group LLC now owns 1,797 shares of the financial services provider's stock worth $235,000 after buying an additional 127 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,972 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the sale, the chief financial officer directly owned 105,371 shares of the company's stock, valued at $13,603,396.10. This represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lindsey S. Caplan sold 1,494 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $155.37, for a total value of $232,122.78. Following the transaction, the chief accounting officer directly owned 26,717 shares of the company's stock, valued at approximately $4,151,020.29. This trade represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,898 shares of company stock valued at $1,122,558. 0.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on CBRE shares. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley restated an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. UBS Group lifted their target price on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods lifted their target price on CBRE Group from $131.00 to $147.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, Evercore ISI lifted their target price on CBRE Group from $147.00 to $164.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, CBRE Group has an average rating of "Moderate Buy" and an average price target of $158.00.

CBRE Group Stock Up 0.2%

Shares of NYSE:CBRE traded up $0.34 on Wednesday, hitting $156.81. 526,556 shares of the company's stock were exchanged, compared to its average volume of 1,839,022. The firm's 50-day moving average is $138.85 and its 200 day moving average is $133.52. The company has a market capitalization of $46.66 billion, a PE ratio of 43.91 and a beta of 1.34. CBRE Group, Inc. has a 1-year low of $106.15 and a 1-year high of $161.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.50 billion. Sell-side analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

About CBRE Group

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.