Royce & Associates LP Decreases Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Royce & Associates LP lowered its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 0.3% in the third quarter, Holdings Channel reports. The institutional investor owned 465,172 shares of the financial services provider’s stock after selling 1,536 shares during the quarter. Colliers International Group comprises approximately 0.6% of Royce & Associates LP’s holdings, making the stock its 21st largest position. Royce & Associates LP’s holdings in Colliers International Group were worth $70,618,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CIGI. Vanguard Group Inc. grew its stake in shares of Colliers International Group by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock worth $159,016,000 after purchasing an additional 5,152 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Colliers International Group by 47.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after purchasing an additional 326,453 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Colliers International Group by 5.9% during the second quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock valued at $82,973,000 after buying an additional 41,225 shares during the period. Bank of Montreal Can boosted its position in shares of Colliers International Group by 0.9% in the second quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock worth $76,703,000 after acquiring an additional 6,178 shares during the last quarter. Finally, Vulcan Value Partners LLC grew its holdings in shares of Colliers International Group by 4.6% during the 2nd quarter. Vulcan Value Partners LLC now owns 454,181 shares of the financial services provider’s stock worth $50,767,000 after purchasing an additional 20,150 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CIGI. BMO Capital Markets raised their price objective on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Scotiabank increased their target price on shares of Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lifted their price target on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.42.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $146.59 on Friday. The company’s 50 day moving average price is $149.13 and its two-hundred day moving average price is $131.39. The company has a market capitalization of $7.20 billion, a P/E ratio of 46.68 and a beta of 1.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.03 and a current ratio of 1.17. Colliers International Group Inc. has a 52 week low of $101.01 and a 52 week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Colliers International Group Inc. will post 5.44 earnings per share for the current fiscal year.

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.