Lazard Asset Management LLC Sells 9,139 Shares of Colliers International Group Inc. $CIGI

Lazard Asset Management LLC trimmed its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 23.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,420 shares of the financial services provider’s stock after selling 9,139 shares during the period. Lazard Asset Management LLC’s holdings in Colliers International Group were worth $3,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Durable Capital Partners LP lifted its stake in Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock valued at $473,273,000 after acquiring an additional 652,744 shares during the last quarter. Norges Bank acquired a new position in shares of Colliers International Group during the 4th quarter worth about $84,906,000. Bank of Montreal Can increased its stake in shares of Colliers International Group by 69.0% during the 4th quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock worth $158,274,000 after purchasing an additional 439,607 shares during the last quarter. Alberta Investment Management Corp bought a new stake in shares of Colliers International Group in the 4th quarter valued at about $47,799,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Colliers International Group by 732.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 214,234 shares of the financial services provider’s stock valued at $33,498,000 after purchasing an additional 188,508 shares during the period. 80.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CIGI. Royal Bank Of Canada reduced their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings lowered Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Scotia cut their price objective on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday. Raymond James Financial reduced their target price on Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. Finally, National Bank Financial boosted their target price on Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Colliers International Group has a consensus rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Stock Down 0.8%

CIGI stock opened at $98.55 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 46.93 and a beta of 1.26. The business’s fifty day moving average price is $96.62 and its two-hundred day moving average price is $109.16. Colliers International Group Inc. has a fifty-two week low of $88.38 and a fifty-two week high of $171.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. Colliers International Group had a return on equity of 20.32% and a net margin of 1.81%.The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts anticipate that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Colliers International Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid 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 of this dividend was Tuesday, June 30th. Colliers International Group’s payout ratio is presently 14.29%.

Colliers International Group News Roundup

Here are the key news stories impacting Colliers International Group this week:

• Positive Sentiment: Colliers reported second-quarter adjusted earnings of $1.83 per share, ahead of the $1.79 consensus estimate and up from $1.72 a year earlier. Revenue increased 16.7% year over year to $1.38 billion. Colliers International Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: National Bank Financial raised its price target from $109 to $110 and reiterated an “outperform” rating, implying approximately 11.6% upside from the referenced share price. BayStreet.CA analyst ratings
• Neutral Sentiment: Scotiabank lowered its price target from $150 to $145 but maintained a “sector outperform” rating. The reduced target is a modest negative signal, although the rating still indicates expected relative strength and substantial potential upside. Benzinga analyst ratings
• Negative Sentiment: Quarterly revenue of $1.38 billion was below the $1.48 billion analyst estimate, a 6.8% shortfall despite strong year-over-year growth. The revenue miss may be weighing on the stock more than the modest EPS beat is supporting it. Colliers International Group earnings report

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.