LRI Investments LLC Sells 2,606 Shares of CBRE Group, Inc. (NYSE:CBRE)

LRI Investments LLC lessened its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 79.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 686 shares of the financial services provider’s stock after selling 2,606 shares during the quarter. LRI Investments LLC’s holdings in CBRE Group were worth $91,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canton Hathaway LLC bought a new stake in shares of CBRE Group during the third quarter worth $27,000. American National Bank & Trust bought a new stake in shares of CBRE Group during the third quarter worth $28,000. Ashton Thomas Securities LLC bought a new stake in shares of CBRE Group during the third quarter worth $32,000. Wolff Wiese Magana LLC grew its stake in shares of CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after buying an additional 283 shares during the last quarter. Finally, Asset Dedication LLC acquired a new position in shares of CBRE Group during the third quarter worth $40,000. Institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

CBRE stock opened at $135.82 on Wednesday. CBRE Group, Inc. has a 12-month low of $81.62 and a 12-month high of $142.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market cap of $41.56 billion, a price-to-earnings ratio of 43.67 and a beta of 1.39. The company’s fifty day simple moving average is $130.52 and its 200 day simple moving average is $112.59.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm 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 firm posted $0.72 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, analysts expect that CBRE Group, Inc. will post 4.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CBRE shares. Citigroup lifted their price target on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group started coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 price target on the stock. Evercore ISI lifted their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and an average price target of $129.63.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.