CIBC Asset Management Inc Trims Position in Colliers International Group Inc. (NASDAQ:CIGI)

CIBC Asset Management Inc decreased its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 12.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 303,358 shares of the financial services provider’s stock after selling 45,080 shares during the quarter. CIBC Asset Management Inc owned approximately 0.62% of Colliers International Group worth $41,160,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC purchased a new stake in shares of Colliers International Group in the third quarter worth about $69,920,000. Franklin Resources Inc. grew its holdings in shares of Colliers International Group by 100.8% in the third quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock valued at $102,261,000 after purchasing an additional 340,691 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Colliers International Group by 55.5% during the third quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock valued at $54,461,000 after purchasing an additional 128,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Colliers International Group by 114.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 161,800 shares of the financial services provider’s stock worth $24,552,000 after buying an additional 86,469 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Colliers International Group by 93.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 121,801 shares of the financial services provider’s stock worth $18,491,000 after buying an additional 58,858 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CIGI shares. National Bankshares dropped their target price on Colliers International Group from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Scotiabank dropped their price target on shares of Colliers International Group from $170.00 to $166.00 and set a “sector outperform” rating for the company in a research note on Friday, February 7th. National Bank Financial upgraded Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Raymond James decreased their target price on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, BMO Capital Markets reduced their price target on shares of Colliers International Group from $177.00 to $172.00 and set a “market perform” rating on the stock in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Colliers International Group has an average rating of “Moderate Buy” and an average price target of $168.63.

Colliers International Group Price Performance

NASDAQ CIGI opened at $131.70 on Monday. The company has a market cap of $6.49 billion, a PE ratio of 41.29 and a beta of 1.49. Colliers International Group Inc. has a 52-week low of $101.01 and a 52-week high of $156.96. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50 day moving average price is $138.24 and its 200-day moving average price is $143.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.89%. Sell-side analysts forecast that Colliers International Group Inc. will post 6.58 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 0.2%. Colliers International Group’s payout ratio is 9.40%.

About Colliers International Group

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.