Royal Bank of Canada Sells 267,307 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Royal Bank of Canada trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,763,056 shares of the financial services provider’s stock after selling 267,307 shares during the period. Royal Bank of Canada owned 7.64% of Colliers International Group worth $511,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Nuveen Asset Management LLC increased its stake in Colliers International Group by 288.0% in the fourth quarter. Nuveen Asset Management LLC now owns 126,451 shares of the financial services provider’s stock valued at $17,187,000 after purchasing an additional 93,864 shares in the last quarter. Millennium Management LLC bought a new stake in Colliers International Group in the fourth quarter valued at approximately $3,587,000. LRT Capital Management LLC increased its stake in Colliers International Group by 17.5% in the fourth quarter. LRT Capital Management LLC now owns 20,207 shares of the financial services provider’s stock valued at $2,748,000 after purchasing an additional 3,010 shares in the last quarter. Janus Henderson Group PLC increased its stake in Colliers International Group by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 466,425 shares of the financial services provider’s stock valued at $63,420,000 after purchasing an additional 5,850 shares in the last quarter. Finally, Gotham Asset Management LLC increased its stake in Colliers International Group by 26.8% in the fourth quarter. Gotham Asset Management LLC now owns 2,761 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 583 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CIGI has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Colliers International Group from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Cibc World Mkts raised shares of Colliers International Group to a “strong-buy” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group lowered their price objective on shares of Colliers International Group from $165.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. William Blair reissued an “outperform” rating on shares of Colliers International Group in a research report on Friday, February 28th. Finally, StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.80.

Colliers International Group Stock Performance

Shares of CIGI opened at $127.25 on Friday. Colliers International Group Inc. has a 12 month low of $100.86 and a 12 month high of $156.96. The firm has a fifty day simple moving average of $119.20 and a 200 day simple moving average of $132.62. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 39.89 and a beta of 1.38. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.13.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Research analysts forecast that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a dividend of $0.15 per share. This represents a yield of 0.2%. The ex-dividend date is Monday, June 30th. Colliers International Group’s payout ratio is 10.53%.

Colliers International Group 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.