Lazard Asset Management LLC Sells 9,139 Shares of Colliers International Group Inc. $CIGI

Lazard Asset Management LLC cut its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 23.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 29,420 shares of the financial services provider’s stock after selling 9,139 shares during the quarter. Lazard Asset Management LLC owned about 0.06% of Colliers International Group worth $3,146,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CIGI. Durable Capital Partners LP raised its holdings in 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 worth $577,840,000 after buying an additional 73,623 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Colliers International Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,996,018 shares of the financial services provider’s stock valued at $293,379,000 after buying an additional 23,516 shares during the period. FIL Ltd boosted its holdings in shares of Colliers International Group by 5.0% in the fourth 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 during the period. Price T Rowe Associates Inc. MD increased its position in shares of Colliers International Group by 16.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,308,985 shares of the financial services provider’s stock worth $192,436,000 after acquiring an additional 187,663 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Colliers International Group by 69.0% during the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock worth $158,274,000 after acquiring an additional 439,607 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CIGI. BMO Capital Markets dropped their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Raymond James Financial lowered their target price on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Royal Bank Of Canada dropped their price target on 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. Finally, Scotiabank cut their price target on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Colliers International Group has a consensus rating of “Moderate Buy” and a consensus target price of $157.56.

Key Headlines Impacting Colliers International Group

Here are the key news stories impacting Colliers International Group this week:

• Positive Sentiment: Colliers reported second-quarter adjusted earnings of $1.83 per share, ahead of the $1.79 consensus estimate and up from $1.72 a year earlier. Revenue increased 16.7% year over year to $1.38 billion. Colliers International Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: National Bank Financial raised its price target from $109 to $110 and reiterated an “outperform” rating, implying approximately 11.6% upside from the referenced share price. BayStreet.CA analyst ratings
• Neutral Sentiment: Scotiabank lowered its price target from $150 to $145 but maintained a “sector outperform” rating. The reduced target is a modest negative signal, although the rating still indicates expected relative strength and substantial potential upside. Benzinga analyst ratings
• Negative Sentiment: Quarterly revenue of $1.38 billion was below the $1.48 billion analyst estimate, a 6.8% shortfall despite strong year-over-year growth. The revenue miss may be weighing on the stock more than the modest EPS beat is supporting it. Colliers International Group earnings report

Colliers International Group Trading Down 0.8%

Shares of NASDAQ:CIGI opened at $98.55 on Friday. The company’s 50-day moving average price is $96.62 and its two-hundred day moving average price is $109.16. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23. Colliers International Group Inc. has a one year low of $88.38 and a one year high of $171.51. The stock has a market capitalization of $5.04 billion, a PE ratio of 46.93 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.32%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 EPS. On average, equities analysts forecast that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 0.6%. Colliers International Group’s dividend payout ratio is 14.29%.

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.