The Manufacturers Life Insurance Company Cuts Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

by · The Markets Daily

The Manufacturers Life Insurance Company reduced its position in shares of Colliers International Group Inc. (NASDAQ:CIGI – Free Report) (TSE:CIGI) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 986,019 shares of the financial services provider’s stock after selling 25,879 shares during the quarter. The Manufacturers Life Insurance Company owned 2.01% of Colliers International Group worth $149,741,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CIGI. Blue Trust Inc. boosted its position in Colliers International Group by 3,377.8% during the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 304 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Colliers International Group by 93.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 469 shares of the financial services provider’s stock valued at $52,000 after buying an additional 226 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Colliers International Group in the 3rd quarter valued at $112,000. Bayesian Capital Management LP purchased a new stake in Colliers International Group in the 1st quarter worth $205,000. Finally, Stonegate Investment Group LLC acquired a new position in Colliers International Group during the third quarter worth $264,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CIGI. National Bankshares lifted their target price on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Scotiabank boosted their price objective on Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. National Bank Financial upgraded Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Raymond James lowered 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 report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Colliers International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.42.

Read Our Latest Analysis on Colliers International Group

Colliers International Group Stock Down 1.7 %

Shares of NASDAQ:CIGI opened at $151.50 on Wednesday. Colliers International Group Inc. has a 52-week low of $101.01 and a 52-week high of $156.96. The stock has a market cap of $7.44 billion, a P/E ratio of 48.25 and a beta of 1.50. The business has a fifty day moving average of $149.41 and a two-hundred day moving average of $133.55. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42.

Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts expect that Colliers International Group Inc. will post 5.44 earnings per share for the current year.

Colliers International Group Profile

(Free Report)

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.

Further Reading