Colliers International Group Inc. $CIGI Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. lowered its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 22.6% during the third quarter, HoldingsChannel.com reports. The fund owned 46,847 shares of the financial services provider’s stock after selling 13,696 shares during the quarter. Colliers International Group accounts for approximately 1.5% of Louisbourg Investments Inc.’s holdings, making the stock its 21st largest holding. Louisbourg Investments Inc.’s holdings in Colliers International Group were worth $7,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of CIGI. Durable Capital Partners LP boosted its position in Colliers International Group by 22.0% during the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after purchasing an additional 652,744 shares in the last quarter. Norges Bank purchased a new position in shares of Colliers International Group in the second quarter valued at $74,820,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Colliers International Group by 56.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider’s stock worth $117,140,000 after buying an additional 349,046 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Colliers International Group in the 2nd quarter worth about $35,521,000. Finally, The Manufacturers Life Insurance Company grew its stake in Colliers International Group by 21.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider’s stock valued at $117,619,000 after acquiring an additional 158,668 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

NASDAQ:CIGI opened at $146.30 on Friday. The firm has a 50 day simple moving average of $149.93 and a 200-day simple moving average of $148.79. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $7.27 billion, a PE ratio of 63.89 and a beta of 1.39. Colliers International Group Inc. has a 1-year low of $100.86 and a 1-year high of $171.51.

Colliers International Group Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a $0.15 dividend. The ex-dividend date is Wednesday, December 31st. This represents a yield of 21.0%. Colliers International Group’s payout ratio is 13.10%.

Analyst Ratings Changes

Several equities analysts have weighed in on CIGI shares. JPMorgan Chase & Co. raised their target price on shares of Colliers International Group from $137.00 to $181.00 and gave the company a “neutral” rating in a report on Tuesday, August 26th. CIBC increased their price target on shares of Colliers International Group from $175.00 to $179.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Scotiabank raised their price objective on shares of Colliers International Group from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Stifel Nicolaus upped their target price on Colliers International Group from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Colliers International Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.70.

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.