Geode Capital Management LLC Trims Stock Position in Colliers International Group Inc. (NASDAQ:CIGI)

Geode Capital Management LLC decreased its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 17.6% during the third quarter, Holdings Channel reports. The institutional investor owned 68,143 shares of the financial services provider’s stock after selling 14,537 shares during the quarter. Geode Capital Management LLC’s holdings in Colliers International Group were worth $10,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in Colliers International Group by 60.5% in the third quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 4,678 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Colliers International Group in the 3rd quarter valued at $2,581,000. Public Employees Retirement System of Ohio purchased a new stake in Colliers International Group during the third quarter worth $3,543,000. HighTower Advisors LLC grew its position in Colliers International Group by 13.6% during the third quarter. HighTower Advisors LLC now owns 2,119 shares of the financial services provider’s stock valued at $323,000 after buying an additional 254 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in Colliers International Group in the third quarter valued at $1,781,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIGI has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Colliers International Group in a research note on Monday, December 16th. They set a “neutral” rating and a $167.00 target price on the stock. Scotiabank upped their price target on Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. National Bank Financial upgraded Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada boosted their price objective on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.44.

Colliers International Group Price Performance

Shares of Colliers International Group stock opened at $135.97 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50 day simple moving average of $147.06 and a two-hundred day simple moving average of $139.53. The stock has a market capitalization of $6.86 billion, a P/E ratio of 43.30 and a beta of 1.47. Colliers International Group Inc. has a 12 month low of $101.01 and a 12 month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts predict that Colliers International Group Inc. will post 5.44 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a yield of 0.2%. Colliers International Group’s payout ratio is presently 9.55%.

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.