Pzena Investment Management LLC Decreases Stake in CBRE Group, Inc. $CBRE

Pzena Investment Management LLC decreased its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 26.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,228 shares of the financial services provider’s stock after selling 108,394 shares during the quarter. Pzena Investment Management LLC owned approximately 0.10% of CBRE Group worth $41,367,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CBRE. Allspring Global Investments Holdings LLC increased its position in CBRE Group by 9.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,628,945 shares of the financial services provider’s stock worth $513,931,000 after buying an additional 319,115 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in CBRE Group by 17.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 49,507 shares of the financial services provider’s stock worth $6,937,000 after buying an additional 7,222 shares during the period. Concurrent Investment Advisors LLC increased its position in CBRE Group by 6.9% during the second quarter. Concurrent Investment Advisors LLC now owns 4,731 shares of the financial services provider’s stock worth $663,000 after buying an additional 304 shares during the period. IRON Financial LLC acquired a new position in CBRE Group during the second quarter worth approximately $206,000. Finally, Trust Co. of Toledo NA OH acquired a new position in CBRE Group during the second quarter worth approximately $98,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Down 1.3%

CBRE opened at $150.44 on Monday. The business’s fifty day moving average is $159.43 and its two-hundred day moving average is $140.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $44.76 billion, a price-to-earnings ratio of 42.14 and a beta of 1.36. CBRE Group, Inc. has a one year low of $108.45 and a one year high of $167.56.

CBRE Group (NYSE:CBRE) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%.The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. Analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total transaction of $315,200.00. Following the completion of the sale, the chief financial officer directly owned 103,371 shares in the company, valued at $16,291,269.60. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vikramaditya Kohli sold 1,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $154.90, for a total value of $154,900.00. Following the sale, the chief executive officer owned 111,473 shares of the company’s stock, valued at $17,267,167.70. This represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,494 shares of company stock worth $857,593. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley lifted their price target on CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Raymond James Financial lifted their price target on CBRE Group from $163.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Wall Street Zen raised CBRE Group from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CBRE Group in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on CBRE Group from $143.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and a consensus price target of $170.78.

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.