Toronto Dominion Bank Cuts Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Toronto Dominion Bank lowered its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,962 shares of the financial services provider’s stock after selling 362 shares during the period. Toronto Dominion Bank’s holdings in Colliers International Group were worth $2,170,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Colliers International Group by 1,752.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider’s stock valued at $43,000 after buying an additional 298 shares during the period. Plato Investment Management Ltd grew its stake in Colliers International Group by 16.0% in the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 118 shares during the last quarter. Tobam grew its stake in Colliers International Group by 12.0% in the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 98 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Colliers International Group in the fourth quarter valued at about $145,000. Finally, CIBC Private Wealth Group LLC grew its stake in Colliers International Group by 44.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

Shares of CIGI stock opened at $120.58 on Friday. Colliers International Group Inc. has a fifty-two week low of $100.86 and a fifty-two week high of $156.96. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 37.80 and a beta of 1.38. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day simple moving average is $118.65 and its 200-day simple moving average is $130.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities analysts forecast that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a dividend of $0.15 per share. This represents a dividend yield of 0.2%. The ex-dividend date is Monday, June 30th. Colliers International Group’s dividend payout ratio (DPR) is 10.53%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CIGI. National Bankshares cut their target price on Colliers International Group from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on Colliers International Group from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BMO Capital Markets cut their target price on Colliers International Group from $177.00 to $172.00 and set a “market perform” rating on the stock in a research note on Friday, February 7th. Scotiabank cut their target price on Colliers International Group from $165.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, Raymond James cut their target price on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Colliers International Group presently has an average rating of “Moderate Buy” and a consensus target price of $160.80.

About Colliers International Group

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.