Intact Investment Management Inc. Cuts Stock Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Intact Investment Management Inc. reduced its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,500 shares of the financial services provider’s stock after selling 4,920 shares during the quarter. Intact Investment Management Inc.’s holdings in Colliers International Group were worth $8,727,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CIGI. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Colliers International Group by 26.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock worth $90,000 after buying an additional 124 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Colliers International Group by 2.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,055 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 238 shares during the period. Whittier Trust Co. grew its stake in Colliers International Group by 8.4% in the 3rd quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 277 shares during the period. Blue Trust Inc. increased its position in shares of Colliers International Group by 3,377.8% during the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 304 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Colliers International Group by 252.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 316 shares during the period. 80.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CIGI has been the subject of a number of research analyst reports. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Stifel Nicolaus upped their price objective on Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. National Bankshares raised their target price on Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Scotiabank boosted their target price on Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Colliers International Group presently has an average rating of “Moderate Buy” and a consensus price target of $158.33.

Colliers International Group Trading Down 0.5 %

NASDAQ:CIGI opened at $151.94 on Monday. Colliers International Group Inc. has a 1 year low of $83.38 and a 1 year high of $156.29. The stock’s fifty day moving average price is $147.86 and its two-hundred day moving average price is $129.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $7.46 billion, a P/E ratio of 51.68 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts expect that Colliers International Group Inc. will post 5.65 EPS for the current year.

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.