Colliers International Group Inc. (NASDAQ:CIGI) Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. decreased its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing 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 period. Colliers International Group makes up 2.1% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 14th biggest position. PCJ Investment Counsel Ltd. owned about 0.09% of Colliers International Group worth $6,682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CIGI. Thrivent Financial for Lutherans acquired a new position in shares of Colliers International Group in the 3rd quarter worth approximately $2,581,000. Empowered Funds LLC boosted its holdings in shares of Colliers International Group by 60.5% in the third quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider’s stock worth $1,885,000 after buying an additional 4,678 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Colliers International Group in the third quarter worth about $112,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Colliers International Group in the third quarter worth about $702,000. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of Colliers International Group by 23.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 7,260 shares of the financial services provider’s stock worth $1,102,000 after buying an additional 1,375 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

Colliers International Group Stock Down 0.8 %

CIGI opened at $143.53 on Wednesday. Colliers International Group Inc. has a fifty-two week low of $101.01 and a fifty-two week high of $156.96. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s fifty day moving average price is $149.31 and its two-hundred day moving average price is $132.57. The company has a market capitalization of $7.05 billion, a P/E ratio of 45.71 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company posted $1.10 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts anticipate that Colliers International Group Inc. will post 5.44 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on CIGI shares. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Scotiabank raised their price objective on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. Finally, BMO Capital Markets raised their price objective on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.42.

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.