Cibc World Market Inc. Trims Stock Position in Colliers International Group Inc. $CIGI

Cibc World Market Inc. reduced its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 192,938 shares of the financial services provider’s stock after selling 12,447 shares during the quarter. Cibc World Market Inc. owned 0.39% of Colliers International Group worth $28,362,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CIGI. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Colliers International Group during the third quarter worth approximately $26,000. JPMorgan Chase & Co. acquired a new stake in shares of Colliers International Group during the second quarter worth $39,000. EverSource Wealth Advisors LLC grew its position in Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after buying an additional 63 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Colliers International Group in the 2nd quarter valued at $96,000. Finally, Smithfield Trust Co acquired a new position in Colliers International Group in the 3rd quarter valued at $117,000. Institutional investors and hedge funds own 80.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CIGI has been the subject of several recent analyst reports. Stifel Nicolaus set a $175.00 target price on shares of Colliers International Group in a research note on Friday, March 13th. Royal Bank Of Canada dropped their price target on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Raymond James Financial lowered their price objective on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Finally, Weiss Ratings cut Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $162.89.

Colliers International Group Stock Performance

Shares of CIGI opened at $97.50 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23. Colliers International Group Inc. has a 52-week low of $90.93 and a 52-week high of $171.51. The company has a 50-day simple moving average of $103.32 and a 200-day simple moving average of $122.77. The company has a market capitalization of $4.98 billion, a PE ratio of 60.19 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts predict that Colliers International Group Inc. will post 6.39 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

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