The Manufacturers Life Insurance Company Trims Holdings in Colliers International Group Inc. $CIGI

The Manufacturers Life Insurance Company trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 40.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 473,077 shares of the financial services provider’s stock after selling 319,830 shares during the quarter. The Manufacturers Life Insurance Company owned 0.93% of Colliers International Group worth $50,533,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CIGI. Caitong International Asset Management Co. Ltd bought a new position in shares of Colliers International Group in the third quarter worth about $26,000. Arax Advisory Partners lifted its holdings 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 buying an additional 126 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Colliers International Group in the 4th quarter valued at about $32,000. JPMorgan Chase & Co. purchased a new stake in Colliers International Group in the 2nd quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC grew its stake in Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 63 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets reduced their price objective 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. Raymond James Financial lowered their target price on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Weiss Ratings downgraded Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. 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 report on Wednesday, May 6th. Finally, Scotia cut their price target on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, April 15th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, Colliers International Group presently has an average rating of “Moderate Buy” and an average target price of $159.11.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $99.38 on Friday. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 61.35 and a beta of 1.26. The company’s 50 day moving average is $96.57 and its 200 day moving average is $109.24. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23. Colliers International Group Inc. has a 52-week low of $88.38 and a 52-week high of $171.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued 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 1.45% and a return on equity of 20.31%. Colliers International Group’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. On average, sell-side analysts anticipate that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Colliers International Group’s payout ratio is presently 18.52%.

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.