Royal Bank of Canada lowered its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 9.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 637,387 shares of the financial services provider’s stock after selling 63,109 shares during the period. Royal Bank of Canada owned approximately 1.64% of Colliers International Group worth $35,981,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morgan Stanley increased its position in shares of Colliers International Group by 7.0% in the first quarter. Morgan Stanley now owns 422,373 shares of the financial services provider’s stock worth $19,936,000 after purchasing an additional 27,547 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Colliers International Group by 21.4% in the first quarter. Dimensional Fund Advisors LP now owns 73,251 shares of the financial services provider’s stock worth $3,457,000 after purchasing an additional 12,913 shares during the period. Blair William & Co. IL increased its position in shares of Colliers International Group by 0.3% in the second quarter. Blair William & Co. IL now owns 17,547 shares of the financial services provider’s stock worth $991,000 after purchasing an additional 45 shares during the period. Tobam bought a new position in shares of Colliers International Group in the second quarter worth $300,000. Finally, Freestone Capital Holdings LLC increased its position in shares of Colliers International Group by 7.1% in the second quarter. Freestone Capital Holdings LLC now owns 85,643 shares of the financial services provider’s stock worth $4,835,000 after purchasing an additional 5,653 shares during the period. Institutional investors own 63.51% of the company’s stock.

Colliers International Group Inc. (NASDAQ:CIGI) opened at 51.15 on Friday. The firm has a 50-day moving average price of $49.98 and a 200-day moving average price of $51.57. The company has a market cap of $1.99 billion, a PE ratio of 30.91 and a beta of 1.73. Colliers International Group Inc. has a 52-week low of $34.20 and a 52-week high of $60.75.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.16. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The firm had revenue of $544.20 million for the quarter, compared to analysts’ expectations of $515.45 million. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. On average, analysts forecast that Colliers International Group Inc. will post $2.87 EPS for the current year.

Colliers International Group announced that its board has authorized a stock repurchase plan on Thursday, July 13th that allows the company to repurchase 2,700,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

A number of research analysts recently commented on the company. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of Colliers International Group in a research report on Wednesday, September 27th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $75.00 price target (up previously from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. BidaskClub cut Colliers International Group from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. ValuEngine cut Colliers International Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Colliers International Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $68.88.

COPYRIGHT VIOLATION WARNING: “Colliers International Group Inc. (CIGI) Position Lowered by Royal Bank of Canada” was reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/colliers-international-group-inc-cigi-position-lowered-by-royal-bank-of-canada/1615391.html.

Colliers International Group Profile

Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.

Want to see what other hedge funds are holding CIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI).

Institutional Ownership by Quarter for Colliers International Group (NASDAQ:CIGI)

Receive News & Ratings for Colliers International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colliers International Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.