The Manufacturers Life Insurance Company Sells 284,737 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 28.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 701,282 shares of the financial services provider's stock after selling 284,737 shares during the period. The Manufacturers Life Insurance Company owned about 1.42% of Colliers International Group worth $95,495,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CIGI. Franklin Resources Inc. boosted its stake in shares of Colliers International Group by 100.8% during the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider's stock worth $102,261,000 after acquiring an additional 340,691 shares in the last quarter. Barclays PLC purchased a new position in Colliers International Group in the 3rd quarter worth about $1,629,000. Sei Investments Co. increased its stake in Colliers International Group by 37.7% in the 4th quarter. Sei Investments Co. now owns 13,179 shares of the financial services provider's stock worth $1,792,000 after purchasing an additional 3,606 shares in the last quarter. Vanguard Group Inc. raised its holdings in Colliers International Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,866,793 shares of the financial services provider's stock worth $253,867,000 after buying an additional 21,422 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Colliers International Group during the fourth quarter valued at about $1,259,000. Institutional investors and hedge funds own 80.09% of the company's stock.

Wall Street Analysts Forecast Growth

CIGI has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of Colliers International Group from $170.00 to $175.00 and gave the stock an "outperform" rating in a research 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. JPMorgan Chase & Co. reduced their target price on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. BMO Capital Markets dropped their price target on Colliers International Group from $177.00 to $172.00 and set a "market perform" rating on the stock in a research report on Friday, February 7th. Finally, Colliers Securities set a $160.00 target price on Colliers International Group in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average target price of $161.80.

Colliers International Group Stock Up 2.4 %

Shares of Colliers International Group stock traded up $2.84 during trading on Friday, hitting $121.85. 66,930 shares of the stock traded hands, compared to its average volume of 114,323. The stock has a market cap of $6.01 billion, a P/E ratio of 38.20 and a beta of 1.36. The company has a fifty day moving average price of $119.36 and a two-hundred day moving average price of $134.45. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $156.96. 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 (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. Equities research analysts predict that Colliers International Group Inc. will post 6.2 EPS for the current fiscal 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.