Canoe Financial LP Sells 24,843 Shares of Colliers International Group Inc. $CIGI

Canoe Financial LP decreased its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 64.7% in the first quarter, Holdings Channel reports. The fund owned 13,527 shares of the financial services provider’s stock after selling 24,843 shares during the period. Canoe Financial LP’s holdings in Colliers International Group were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in CIGI. EverSource Wealth Advisors LLC increased its stake in shares of Colliers International Group by 26.3% in the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 63 shares during the period. Cooper Investors PTY Ltd. lifted its position in shares of Colliers International Group by 0.4% during the 4th quarter. Cooper Investors PTY Ltd. now owns 30,217 shares of the financial services provider’s stock worth $4,442,000 after purchasing an additional 114 shares during the last quarter. Arax Advisory Partners boosted its stake in Colliers International Group by 137.0% during the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 126 shares during the period. Versor Investments LP grew its holdings in Colliers International Group by 6.2% in the 4th quarter. Versor Investments LP now owns 2,415 shares of the financial services provider’s stock valued at $355,000 after buying an additional 142 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its holdings in Colliers International Group by 8.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,975 shares of the financial services provider’s stock valued at $290,000 after buying an additional 151 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CIGI shares. Stifel Nicolaus set a $175.00 price target on Colliers International Group in a report on Friday, March 13th. National Bank Financial lowered their price objective on shares of Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Raymond James Financial cut their target price on shares of Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. Scotia reduced their price target on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a report on Wednesday, April 15th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $162.89.

Colliers International Group Stock Performance

CIGI opened at $92.67 on Monday. The stock’s 50 day simple moving average is $98.92 and its 200-day simple moving average is $117.39. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. The stock has a market cap of $4.74 billion, a PE ratio of 57.20 and a beta of 1.26. Colliers International Group Inc. has a 1 year low of $88.38 and a 1 year high of $171.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Colliers International Group Inc. will post 6.82 EPS for the current year.

Colliers International Group Announces Dividend

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