Colliers International Group Inc. $CIGI Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 49.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 62,084 shares of the financial services provider’s stock after selling 60,561 shares during the period. Thrivent Financial for Lutherans’ holdings in Colliers International Group were worth $9,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intact Investment Management Inc. raised its holdings in Colliers International Group by 19.3% during the third quarter. Intact Investment Management Inc. now owns 75,180 shares of the financial services provider’s stock worth $11,759,000 after purchasing an additional 12,140 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Colliers International Group by 3.7% during the third quarter. Cidel Asset Management Inc. now owns 134,127 shares of the financial services provider’s stock worth $20,982,000 after purchasing an additional 4,847 shares during the last quarter. Citigroup Inc. raised its holdings in Colliers International Group by 1,164.9% during the third quarter. Citigroup Inc. now owns 54,745 shares of the financial services provider’s stock worth $8,564,000 after purchasing an additional 50,417 shares during the last quarter. Brummer Multi Strategy AB acquired a new position in Colliers International Group during the third quarter worth $691,000. Finally, Artisan Partners Limited Partnership raised its holdings in Colliers International Group by 16.3% during the third quarter. Artisan Partners Limited Partnership now owns 519,019 shares of the financial services provider’s stock worth $81,103,000 after purchasing an additional 72,570 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CIGI. BMO Capital Markets reduced their price objective on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. National Bank Financial reduced their price objective on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Raymond James Financial reduced their price objective on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Stifel Nicolaus set a $175.00 price objective on Colliers International Group in a report on Friday, March 13th. Finally, Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.89.

Colliers International Group Stock Performance

NASDAQ CIGI opened at $93.21 on Wednesday. Colliers International Group Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $171.51. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 57.54 and a beta of 1.31. The business has a fifty day moving average of $105.89 and a 200-day moving average of $127.59. 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 (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned $0.87 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts predict that Colliers International Group Inc. will post 6.39 earnings per share for the current fiscal year.

Colliers International Group Announces Dividend

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