PCJ Investment Counsel Ltd. Sells 7,890 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

PCJ Investment Counsel Ltd. reduced its position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 15.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,020 shares of the financial services provider's stock after selling 7,890 shares during the quarter. Colliers International Group comprises approximately 2.1% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 14th biggest position. PCJ Investment Counsel Ltd. owned approximately 0.09% of Colliers International Group worth $6,682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CIGI. Russell Investments Group Ltd. boosted its stake in Colliers International Group by 33.9% in the 1st quarter. Russell Investments Group Ltd. now owns 16,473 shares of the financial services provider's stock worth $2,015,000 after purchasing an additional 4,169 shares during the period. Addenda Capital Inc. boosted its stake in shares of Colliers International Group by 20.6% in the 2nd quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider's stock valued at $17,152,000 after purchasing an additional 26,263 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Colliers International Group during the 2nd quarter valued at $567,000. Bank of Montreal Can raised its holdings in shares of Colliers International Group by 0.9% in the second quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider's stock valued at $76,703,000 after purchasing an additional 6,178 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Colliers International Group by 67.3% during the second quarter. Canada Pension Plan Investment Board now owns 49,715 shares of the financial services provider's stock worth $5,550,000 after purchasing an additional 20,000 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIGI has been the subject of a number of recent analyst reports. Scotiabank boosted their target price on Colliers International Group from $155.00 to $167.50 and gave the stock a "sector outperform" rating in a research report on Wednesday, November 6th. StockNews.com downgraded Colliers International Group from a "buy" rating to a "hold" rating in a research note on Tuesday, October 8th. National Bankshares boosted their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a "sector perform" rating in a report on Friday, August 2nd. Stifel Nicolaus increased their price target on Colliers International Group from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Colliers International Group from $160.00 to $174.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.42.

Colliers International Group Price Performance

Shares of Colliers International Group stock traded down $2.29 during trading on Wednesday, hitting $141.24. The stock had a trading volume of 69,974 shares, compared to its average volume of 113,398. Colliers International Group Inc. has a 12 month low of $101.01 and a 12 month high of $156.96. The business's 50-day moving average is $149.31 and its 200 day moving average is $132.57. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 45.71 and a beta of 1.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the business earned $1.10 EPS. The company's revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colliers International Group Inc. will post 5.44 earnings per share for the current year.

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.