Franklin Resources Inc. Sells 341,946 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Franklin Resources Inc. reduced its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 50.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 336,890 shares of the financial services provider's stock after selling 341,946 shares during the quarter. Franklin Resources Inc. owned 0.68% of Colliers International Group worth $45,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plato Investment Management Ltd raised its position 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% during the fourth quarter. Tobam now owns 913 shares of the financial services provider's stock worth $124,000 after purchasing an additional 98 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Colliers International Group during the 4th quarter valued at $145,000. CIBC Private Wealth Group LLC boosted its position in shares of Colliers International Group by 44.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider's stock worth $164,000 after purchasing an additional 378 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Colliers International Group by 112.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,260 shares of the financial services provider's stock valued at $171,000 after acquiring an additional 667 shares during the period. 80.09% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several brokerages recently weighed in on CIGI. StockNews.com cut shares of Colliers International Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. BMO Capital Markets cut their target price on shares of Colliers International Group from $177.00 to $172.00 and set a "market perform" rating for the company in a research report on Friday, February 7th. National Bankshares decreased their target price on shares of Colliers International Group from $182.00 to $169.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Cibc World Mkts upgraded shares of Colliers International Group to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, CIBC started coverage on Colliers International Group in a research report on Tuesday, March 4th. They set a "sector outperform" rating and a $160.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $161.80.

Colliers International Group Stock Performance

Shares of CIGI stock traded down $4.40 during trading hours on Thursday, reaching $110.79. The company had a trading volume of 53,683 shares, compared to its average volume of 115,632. The business has a fifty day moving average price of $125.42 and a 200-day moving average price of $138.39. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. Colliers International Group Inc. has a one year low of $100.86 and a one year high of $156.96. The firm has a market cap of $5.46 billion, a PE ratio of 34.73 and a beta of 1.36.

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

Colliers International Group Company Profile

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.