BloombergSen Inc. Trims Stock Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Key Points

• BloombergSen Inc. has decreased its holdings in Colliers International Group Inc. by 2.3%, now holding 645,698 shares, which accounts for 4.9% of their total portfolio.
• Colliers International Group's stock recently traded at $142.37, with a market cap of $7.04 billion, and reported a 12-month revenue increase of 13.9% year-over-year.
• The company announced a semi-annual dividend of $0.15 per share, reflecting a dividend yield of 0.2%, with a payout ratio of 10.53%.

BloombergSen Inc. trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 645,698 shares of the financial services provider's stock after selling 15,496 shares during the period. Colliers International Group accounts for about 4.9% of BloombergSen Inc.'s investment portfolio, making the stock its 10th biggest holding. BloombergSen Inc. owned approximately 1.31% of Colliers International Group worth $78,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MQS Management LLC acquired a new position in shares of Colliers International Group in the first quarter valued at approximately $527,000. Millennium Management LLC acquired a new position in shares of Colliers International Group in the fourth quarter valued at approximately $3,587,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Colliers International Group by 4.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock valued at $12,869,000 after buying an additional 4,153 shares during the period. Victory Capital Management Inc. boosted its holdings in Colliers International Group by 1.1% during the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock worth $84,548,000 after purchasing an additional 7,815 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Colliers International Group by 102.5% during the fourth quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock worth $12,678,000 after purchasing an additional 47,195 shares during the last quarter. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Performance

Shares of NASDAQ:CIGI traded down $0.13 during midday trading on Monday, reaching $142.24. The company had a trading volume of 56,929 shares, compared to its average volume of 128,485. The company's 50 day moving average price is $129.46 and its 200 day moving average price is $127.03. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The stock has a market cap of $7.04 billion, a P/E ratio of 49.77 and a beta of 1.39. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $156.96.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.04). The company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.15 billion. Colliers International Group had a return on equity of 20.20% and a net margin of 2.92%. Colliers International Group's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, sell-side analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were given a $0.15 dividend. This represents a dividend yield of 0.2%. The ex-dividend date was Monday, June 30th. Colliers International Group's dividend payout ratio (DPR) is 10.53%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CIGI shares. Stifel Nicolaus reduced their target price on shares of Colliers International Group from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, April 28th. Scotiabank reduced their target price on shares of Colliers International Group from $165.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. JMP Securities began coverage on shares of Colliers International Group in a report on Monday, July 21st. They set a "market perform" rating for the company. JPMorgan Chase & Co. cut their price target on shares of Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, Citizens Jmp began coverage on shares of Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $160.80.

About Colliers International Group

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.