Vulcan Value Partners LLC Sells 71,105 Shares of Colliers International Group Inc. $CIGI

Vulcan Value Partners LLC lessened its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 27.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,068 shares of the financial services provider’s stock after selling 71,105 shares during the period. Colliers International Group comprises approximately 0.5% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 29th biggest position. Vulcan Value Partners LLC’s holdings in Colliers International Group were worth $29,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Durable Capital Partners LP lifted its stake in shares of Colliers International Group by 22.0% during the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after acquiring an additional 652,744 shares during the last quarter. Norges Bank bought a new stake in shares of Colliers International Group during the second quarter worth $74,820,000. JPMorgan Chase & Co. boosted its stake 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 valued at $53,762,000 after purchasing an additional 343,865 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Colliers International Group in the second quarter worth about $35,521,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Colliers International Group by 21.3% in the second quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider’s stock worth $117,619,000 after purchasing an additional 158,668 shares during the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CIGI. National Bank Financial decreased their price objective on shares of Colliers International Group from $185.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Stifel Nicolaus reduced their price objective on Colliers International Group from $195.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Colliers International Group in a report on Wednesday, January 21st. Scotiabank cut their price target on Colliers International Group from $185.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded Colliers International Group from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $168.89.

Colliers International Group Trading Down 0.8%

Shares of NASDAQ:CIGI opened at $114.13 on Monday. The company has a market capitalization of $5.68 billion, a PE ratio of 56.78 and a beta of 1.40. The company has a current ratio of 1.10, a quick ratio of 1.14 and a debt-to-equity ratio of 1.06. Colliers International Group Inc. has a 12-month low of $98.97 and a 12-month high of $171.51. The business’s fifty day simple moving average is $139.42 and its 200-day simple moving average is $150.15.

Colliers International Group Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a $0.15 dividend. The ex-dividend date was Wednesday, December 31st. This represents a yield of 20.0%. Colliers International Group’s payout ratio is currently 14.93%.

About Colliers International Group

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.