Colliers International Group Inc. (NASDAQ:CIGI) Stake Lowered by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 303,358 shares of the financial services provider's stock after selling 45,080 shares during the period. CIBC Asset Management Inc owned 0.62% of Colliers International Group worth $41,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CIGI. Stonegate Investment Group LLC bought a new stake in shares of Colliers International Group during the third quarter valued at approximately $264,000. Blue Trust Inc. raised its holdings in shares of Colliers International Group by 197.8% during the third quarter. Blue Trust Inc. now owns 932 shares of the financial services provider's stock valued at $141,000 after buying an additional 619 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Colliers International Group by 8.4% during the third quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider's stock valued at $540,000 after buying an additional 277 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Colliers International Group by 26.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider's stock valued at $90,000 after buying an additional 124 shares during the last quarter. Finally, Argent Capital Management LLC raised its holdings in shares of Colliers International Group by 30.0% during the third quarter. Argent Capital Management LLC now owns 38,477 shares of the financial services provider's stock valued at $5,841,000 after buying an additional 8,869 shares during the last quarter. Institutional investors own 80.09% of the company's stock.

Colliers International Group Price Performance

Colliers International Group stock traded down $3.89 during mid-day trading on Thursday, hitting $128.06. The company's stock had a trading volume of 115,537 shares, compared to its average volume of 124,210. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $6.31 billion, a P/E ratio of 40.14 and a beta of 1.49. Colliers International Group Inc. has a twelve month low of $101.01 and a twelve month high of $156.96. The stock's fifty day moving average price is $136.82 and its two-hundred day moving average price is $143.21.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.53). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. Research analysts forecast that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Colliers International Group Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, December 31st. Colliers International Group's payout ratio is 9.40%.

Analysts Set New Price Targets

CIGI has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price on Colliers International Group from $177.00 to $172.00 and set a "market perform" rating on the stock in a report on Friday, February 7th. National Bankshares dropped their target price on Colliers International Group from $182.00 to $169.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Scotiabank dropped their target price on Colliers International Group from $170.00 to $166.00 and set a "sector outperform" rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group initiated coverage on Colliers International Group in a report on Friday, December 6th. They set a "neutral" rating and a $170.00 target price on the stock. Finally, National Bank Financial raised Colliers International Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $168.63.

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.