Investment Management Corp of Ontario Cuts Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Investment Management Corp of Ontario cut its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 1,851 shares of the financial services provider’s stock after selling 200 shares during the quarter. Investment Management Corp of Ontario’s holdings in Colliers International Group were worth $281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new position in shares of Colliers International Group during the third quarter valued at approximately $69,920,000. The Manufacturers Life Insurance Company lifted its holdings in Colliers International Group by 47.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after buying an additional 326,453 shares during the period. Clearbridge Investments LLC boosted its position in Colliers International Group by 91.3% during the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock valued at $34,677,000 after acquiring an additional 148,265 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Colliers International Group by 55.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock valued at $54,461,000 after acquiring an additional 128,005 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position 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 acquiring an additional 86,469 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Trading Down 0.2 %

Shares of Colliers International Group stock opened at $151.79 on Monday. Colliers International Group Inc. has a 12-month low of $101.01 and a 12-month high of $156.96. The firm’s 50 day simple moving average is $150.15 and its two-hundred day simple moving average is $135.97. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 48.34 and a beta of 1.47.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $1.10 EPS. Analysts predict that Colliers International Group Inc. will post 5.44 EPS for the current year.

Colliers International Group Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a yield of 0.2%. Colliers International Group’s dividend payout ratio is currently 9.55%.

Analyst Upgrades and Downgrades

CIGI has been the topic of a number of recent research reports. National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price objective on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. The Goldman Sachs Group started coverage on shares of Colliers International Group in a research note on Friday. They set a “neutral” rating and a $170.00 price objective for the company. Scotiabank raised their target price on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.79.

Colliers International Group Company Profile

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.