The Manufacturers Life Insurance Company Cuts Stake in Colliers International Group Inc. $CIGI

The Manufacturers Life Insurance Company reduced its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 40.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 473,077 shares of the financial services provider’s stock after selling 319,830 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Colliers International Group were worth $50,533,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Durable Capital Partners LP lifted its holdings in shares of Colliers International Group by 2.0% during the 3rd quarter. Durable Capital Partners LP now owns 3,699,124 shares of the financial services provider’s stock valued at $577,840,000 after purchasing an additional 73,623 shares during the last quarter. Spruce House Investment Management LLC grew its stake in Colliers International Group by 93.0% during the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after buying an additional 1,209,867 shares during the last quarter. Vanguard Group Inc. grew its stake in Colliers International Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,996,018 shares of the financial services provider’s stock worth $293,379,000 after buying an additional 23,516 shares during the last quarter. FIL Ltd increased its position in Colliers International Group by 5.0% during the 4th quarter. FIL Ltd now owns 1,780,980 shares of the financial services provider’s stock valued at $261,772,000 after buying an additional 85,078 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Colliers International Group by 16.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,308,985 shares of the financial services provider’s stock valued at $192,436,000 after buying an additional 187,663 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $99.38 on Friday. The business has a fifty day moving average of $96.57 and a 200 day moving average of $109.24. Colliers International Group Inc. has a 1 year low of $88.38 and a 1 year high of $171.51. 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 firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 61.35 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.04. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. As a group, research analysts expect that Colliers International Group Inc. will post 6.82 earnings per share 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 issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Colliers International Group’s payout ratio is 18.52%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CIGI shares. Royal Bank Of Canada lowered 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. Zacks Research upgraded shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings lowered shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. National Bank Financial decreased their price objective on shares of Colliers International Group from $143.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Scotia lowered their target price on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.