Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Position in Colliers International Group Inc. $CIGI

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 67.2% in the 1st quarter, HoldingsChannel reports. The fund owned 3,332 shares of the financial services provider’s stock after selling 6,819 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Colliers International Group were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Durable Capital Partners LP boosted its position in Colliers International Group by 22.0% during 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 purchasing an additional 652,744 shares in the last quarter. Norges Bank purchased a new position in shares of Colliers International Group in the 4th quarter worth approximately $84,906,000. Bank of Montreal Can grew its position in shares of Colliers International Group by 69.0% in 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 buying an additional 439,607 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Colliers International Group by 114,621.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock worth $53,762,000 after acquiring an additional 343,865 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Colliers International Group during the 4th quarter worth approximately $47,799,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Stock Down 0.3%

NASDAQ:CIGI opened at $101.92 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. Colliers International Group Inc. has a twelve month low of $88.38 and a twelve month high of $171.51. The company has a market cap of $5.21 billion, a PE ratio of 62.91 and a beta of 1.26. The company’s 50 day moving average is $95.78 and its two-hundred day moving average is $112.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business posted $0.87 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Colliers International Group Inc. will post 6.82 EPS for the current year.

Colliers International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Colliers International Group’s dividend payout ratio is presently 18.52%.

Wall Street Analyst Weigh In

CIGI has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. National Bank Financial decreased their price objective on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Royal Bank Of Canada lowered their price objective on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Zacks Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Raymond James Financial reduced their target price on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.11.

Colliers International Group Company 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.