Alberta Investment Management Corp Has $70.18 Million Position in Colliers International Group Inc. (NASDAQ:CIGI)

Key Points

• Alberta Investment Management Corp reduced its stake in Colliers International Group Inc. by 7.4%, selling 46,459 shares and holding approximately 1.18% of the company valued at $70.18 million at the end of the first quarter.
• Colliers International Group reported a Q1 earnings per share of $0.87, missing estimates of $0.91, while revenue was $1.09 billion, below the $1.15 billion forecast.
• The company recently announced a semi-annual dividend of $0.15 per share, representing a yield of 20.0%, with a payout ratio of 10.53%.

Alberta Investment Management Corp reduced its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 579,963 shares of the financial services provider's stock after selling 46,459 shares during the period. Alberta Investment Management Corp owned approximately 1.18% of Colliers International Group worth $70,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. TCTC Holdings LLC lifted its holdings in shares of Colliers International Group by 114.9% in the 1st quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock worth $26,000 after acquiring an additional 116 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Colliers International Group by 1,752.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 298 shares during the period. Central Pacific Bank Trust Division raised its position in Colliers International Group by 10.0% during the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock worth $133,000 after acquiring an additional 100 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Colliers International Group by 44.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider's stock valued at $164,000 after buying an additional 378 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Colliers International Group by 13.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider's stock valued at $174,000 after purchasing an additional 175 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CIGI has been the topic of a number of recent research reports. Raymond James Financial boosted their target price on shares of Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday. Royal Bank Of Canada raised their target price on shares of Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday. Scotiabank raised their price objective on shares of Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a research report on Friday. JMP Securities began coverage on shares of Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating for the company. Finally, Citizens Jmp initiated coverage on shares of Colliers International Group in a research note on Monday, July 21st. They set a "market perform" rating for the company. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $168.40.

Colliers International Group Trading Up 2.7%

CIGI traded up $4.10 during trading hours on Tuesday, reaching $156.19. 108,217 shares of the company's stock traded hands, compared to its average volume of 132,358. The firm has a 50-day moving average price of $132.78 and a 200 day moving average price of $127.68. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $156.96. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $7.73 billion, a PE ratio of 70.95 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.20. Colliers International Group had a return on equity of 21.13% and a net margin of 2.17%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $1.36 earnings per share. The business's quarterly revenue was up 18.3% compared to the same quarter last year. As a group, sell-side analysts predict that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a dividend yield of 20.0%. Colliers International Group's dividend payout ratio (DPR) is 13.64%.

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.