Clearbridge Investments LLC Cuts Stake in CBRE Group, Inc. (NYSE:CBRE)

Clearbridge Investments LLC lessened its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 500,748 shares of the financial services provider’s stock after selling 140 shares during the period. Clearbridge Investments LLC’s holdings in CBRE Group were worth $36,459,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in shares of CBRE Group by 6.1% in the first quarter. HighTower Advisors LLC now owns 14,759 shares of the financial services provider’s stock valued at $1,344,000 after buying an additional 845 shares during the period. Vontobel Holding Ltd. lifted its holdings in CBRE Group by 7.5% during the first quarter. Vontobel Holding Ltd. now owns 9,053 shares of the financial services provider’s stock valued at $839,000 after purchasing an additional 634 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in CBRE Group by 7,628.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,623 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 1,602 shares during the last quarter. Covestor Ltd boosted its position in CBRE Group by 78.5% during the first quarter. Covestor Ltd now owns 1,085 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 477 shares during the period. Finally, Ergoteles LLC purchased a new position in shares of CBRE Group in the first quarter worth about $259,000. Institutional investors own 96.71% of the company’s stock.

Insider Transactions at CBRE Group

In other CBRE Group news, CAO Lindsey S. Caplan sold 1,305 shares of CBRE Group stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $83.08, for a total transaction of $108,419.40. Following the completion of the sale, the chief accounting officer now directly owns 17,215 shares in the company, valued at $1,430,222.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Lindsey S. Caplan sold 1,305 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $83.08, for a total value of $108,419.40. Following the transaction, the chief accounting officer now owns 17,215 shares of the company’s stock, valued at $1,430,222.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brandon B. Boze sold 3,400,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $80.80, for a total value of $274,720,000.00. Following the sale, the director now owns 5,837,748 shares in the company, valued at approximately $471,690,038.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,607,856 shares of company stock valued at $376,671,359. 0.53% of the stock is owned by corporate insiders.

CBRE Group Stock Up 1.1 %

CBRE opened at $86.02 on Tuesday. The firm has a market capitalization of $26.65 billion, a P/E ratio of 32.58 and a beta of 1.36. CBRE Group, Inc. has a one year low of $66.31 and a one year high of $89.58. The company has a fifty day moving average price of $84.10 and a 200-day moving average price of $78.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. CBRE Group had a return on equity of 15.42% and a net margin of 2.74%. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.30 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Equities research analysts expect that CBRE Group, Inc. will post 4.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CBRE has been the subject of several analyst reports. StockNews.com started coverage on shares of CBRE Group in a report on Thursday, August 17th. They issued a “hold” rating for the company. Evercore ISI dropped their target price on CBRE Group from $85.00 to $84.00 in a research report on Friday, June 23rd. Finally, Raymond James reduced their price target on CBRE Group from $102.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.14.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services 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.