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

Lazard Asset Management LLC decreased its position in CBRE Group, Inc. (NYSE:CBRE) by 0.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,125,703 shares of the financial services provider’s stock after selling 4,300 shares during the period. Lazard Asset Management LLC’s holdings in CBRE Group were worth $152,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swiss RE Ltd. bought a new position in CBRE Group in the 4th quarter worth approximately $25,000. Navalign LLC purchased a new position in CBRE Group during the fourth quarter worth about $29,000. Ascentis Independent Advisors bought a new position in shares of CBRE Group in the first quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC bought a new position in shares of CBRE Group in the 1st quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in CBRE Group in the fourth quarter valued at $42,000. Institutional investors own 98.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CBRE. Evercore set a $169.00 price target on shares of CBRE Group in a research note on Tuesday, June 30th. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Saturday. Barclays boosted their target price on CBRE Group from $175.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, UBS Group reiterated a “buy” rating on shares of CBRE Group in a report on Wednesday, June 17th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $178.86.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $139.50 on Monday. The firm has a market cap of $40.85 billion, a P/E ratio of 31.78 and a beta of 1.20. 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, Inc. has a twelve month low of $121.69 and a twelve month high of $174.27. The company has a 50 day moving average of $134.36 and a 200 day moving average of $143.85.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.13 by $0.48. The company had revenue of $10.53 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm posted $0.86 earnings per share. As a group, research analysts expect that CBRE Group, Inc. will post 7.75 EPS for the current fiscal year.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $130.74, for a total transaction of $294,165.00. Following the completion of the sale, the chief financial officer directly owned 110,729 shares in the company, valued at approximately $14,476,709.46. The trade was a 1.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.46% of the company’s stock.

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.