Mackenzie Financial Corp Cuts Position in Colliers International Group Inc. (NASDAQ:CIGI)

Mackenzie Financial Corp lessened its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 34.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 393,511 shares of the financial services provider’s stock after selling 208,182 shares during the quarter. Mackenzie Financial Corp owned approximately 0.80% of Colliers International Group worth $47,620,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CIGI. Tower Research Capital LLC TRC lifted its stake in Colliers International Group by 1,752.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 298 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 100 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Colliers International Group by 44.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 378 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Colliers International Group by 13.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 175 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in Colliers International Group in the fourth quarter valued at approximately $222,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CIGI. JMP Securities began coverage on Colliers International Group in a research note on Monday, July 21st. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. dropped their price objective on Colliers International Group from $167.00 to $142.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Citizens Jmp began coverage on Colliers International Group in a research note on Monday, July 21st. They issued a “market perform” rating on the stock. Stifel Nicolaus dropped their price objective on Colliers International Group from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Scotiabank lowered their target price on shares of Colliers International Group from $165.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Colliers International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.80.

Colliers International Group Stock Up 6.5%

Shares of NASDAQ:CIGI opened at $148.61 on Wednesday. The stock’s 50-day moving average price is $130.22 and its 200-day moving average price is $127.24. Colliers International Group Inc. has a 12-month low of $100.86 and a 12-month high of $156.96. The stock has a market capitalization of $7.35 billion, a P/E ratio of 52.14 and a beta of 1.39. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). Colliers International Group had a net margin of 2.92% and a return on equity of 20.20%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Colliers International Group Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a dividend yield of 0.2%. Colliers International Group’s dividend payout ratio (DPR) is currently 10.53%.

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.