Public Employees Retirement System of Ohio Sells 11,784 Shares of Colliers International Group Inc. $CIGI

Public Employees Retirement System of Ohio lowered its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 30.6% in the first quarter, Holdings Channel reports. The institutional investor owned 26,670 shares of the financial services provider’s stock after selling 11,784 shares during the period. Public Employees Retirement System of Ohio’s holdings in Colliers International Group were worth $2,844,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC boosted 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 valued at $40,000 after buying an additional 63 shares during the period. Arax Advisory Partners increased its holdings in Colliers International Group by 137.0% in the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock valued at $32,000 after buying an additional 126 shares during the period. Versor Investments LP increased 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 period. Moneta Group Investment Advisors LLC raised its position in shares of 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 in the last quarter. Finally, LPL Financial LLC raised its position in shares of Colliers International Group by 7.2% in the 4th quarter. LPL Financial LLC now owns 2,331 shares of the financial services provider’s stock valued at $343,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Key Colliers International Group News

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 Price Performance

Shares of CIGI opened at $98.55 on Friday. Colliers International Group Inc. has a 12-month low of $88.38 and a 12-month high of $171.51. The business has a 50-day simple moving average of $96.62 and a two-hundred day simple moving average of $109.16. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23. The stock has a market cap 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 earnings results on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.79 by $0.04. Colliers International Group had a return on equity of 20.32% and a net margin of 1.81%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $1.72 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Analysts anticipate that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently issued reports on CIGI. Scotiabank reduced their price target on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday. Raymond James Financial lowered their price objective on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. National Bank Financial upped their target price on Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets reduced their target price on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Scotia reduced their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.56.

About Colliers International Group

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.