Franklin Resources Inc. Trims Stock Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Franklin Resources Inc. lowered its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 50.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 336,890 shares of the financial services provider’s stock after selling 341,946 shares during the quarter. Franklin Resources Inc.’s holdings in Colliers International Group were worth $45,759,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CIGI. Barclays PLC purchased a new position in Colliers International Group during the 3rd quarter valued at about $1,629,000. Public Employees Retirement System of Ohio bought a new stake in Colliers International Group in the 3rd quarter worth about $3,543,000. HighTower Advisors LLC raised its holdings in Colliers International Group by 13.6% in the 3rd quarter. HighTower Advisors LLC now owns 2,119 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 254 shares during the period. Alberta Investment Management Corp raised its holdings in Colliers International Group by 3.4% in the 4th quarter. Alberta Investment Management Corp now owns 626,422 shares of the financial services provider’s stock worth $85,143,000 after purchasing an additional 20,794 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Colliers International Group by 49.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 25,485 shares of the financial services provider’s stock valued at $3,465,000 after purchasing an additional 8,484 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

CIGI opened at $112.17 on Friday. Colliers International Group Inc. has a 12-month low of $101.01 and a 12-month high of $156.96. The business’s fifty day simple moving average is $128.62 and its 200-day simple moving average is $139.66. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 35.16 and a beta of 1.58. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.13.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. On average, equities research analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CIGI shares. JPMorgan Chase & Co. started coverage on shares of Colliers International Group in a research note on Monday, December 16th. They set a “neutral” rating and a $167.00 target price on the stock. Scotiabank reduced their target price on Colliers International Group from $166.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Monday, March 31st. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Raymond James decreased their price objective on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Colliers Securities set a $160.00 target price on shares of Colliers International Group in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $164.30.

About Colliers International Group

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.