Colliers International Group Inc. $CIGI Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. lowered its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 6.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 192,938 shares of the financial services provider’s stock after selling 12,447 shares during the period. Cibc World Market Inc.’s holdings in Colliers International Group were worth $28,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CIGI. Durable Capital Partners LP lifted its holdings in Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock valued at $473,273,000 after purchasing an additional 652,744 shares in the last quarter. Norges Bank acquired a new stake in shares of Colliers International Group during the 4th quarter worth about $84,906,000. JPMorgan Chase & Co. grew its holdings in shares of Colliers International Group by 114,621.7% during the third quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock worth $53,762,000 after buying an additional 343,865 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Colliers International Group by 732.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 214,234 shares of the financial services provider’s stock worth $33,498,000 after buying an additional 188,508 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Colliers International Group by 2,790.6% in the third quarter. Citadel Advisors LLC now owns 94,755 shares of the financial services provider’s stock valued at $14,802,000 after buying an additional 91,477 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. National Bank Financial decreased their target price on shares of Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Zacks Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Stifel Nicolaus set a $175.00 price target on Colliers International Group in a research note on Friday, March 13th. Raymond James Financial decreased their price objective on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Finally, Scotiabank lowered their price objective on Colliers International Group from $185.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and an average price target of $162.89.

Colliers International Group Price Performance

CIGI opened at $97.50 on Friday. Colliers International Group Inc. has a 1 year low of $90.93 and a 1 year high of $171.51. The company’s 50 day simple moving average is $103.32 and its 200 day simple moving average is $122.77. The stock has a market capitalization of $4.98 billion, a PE ratio of 60.19 and a beta of 1.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. As a group, sell-side analysts expect that Colliers International Group Inc. will post 6.39 EPS for the current year.

Colliers International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Colliers International Group’s dividend payout ratio is presently 18.52%.

Colliers International Group Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.