BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 104,408 Shares of Colliers International Group Inc. $CIGI

Key Points

• British Columbia Investment Management Corp drastically reduced its stake in Colliers International Group Inc. by 81.4%, selling 104,408 shares, leaving them with 23,867 shares valued at approximately $2.89 million.
• Colliers reported a quarterly earnings beat with $1.72 EPS, exceeding analyst expectations of $1.52, and achieved a revenue of $1.37 billion, up by 18.3% year-over-year.
• Analysts have raised their price targets for Colliers International Group, with estimates now reaching up to $180, reflecting an overall consensus rating of "Moderate Buy."

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 81.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,867 shares of the financial services provider's stock after selling 104,408 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Colliers International Group were worth $2,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC increased its holdings in Colliers International Group by 114.9% during 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 period. Caitong International Asset Management Co. Ltd bought a new stake in Colliers International Group during the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its holdings in Colliers International Group by 1,752.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock worth $43,000 after acquiring an additional 298 shares during the period. Central Pacific Bank Trust Division increased its holdings in Colliers International Group by 10.0% during the 1st 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 period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Colliers International Group by 13.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider's stock worth $174,000 after buying an additional 175 shares in the last quarter. Institutional investors own 80.09% of the company's stock.

Colliers International Group Trading Down 0.1%

Shares of Colliers International Group stock traded down $0.22 during trading on Monday, reaching $165.35. The company's stock had a trading volume of 128,170 shares, compared to its average volume of 149,306. The firm's 50-day moving average is $147.31 and its two-hundred day moving average is $130.95. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $170.65. 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 company has a market cap of $8.18 billion, a price-to-earnings ratio of 75.16 and a beta of 1.41.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.20. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business posted $1.36 EPS. The firm's revenue was up 18.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on CIGI shares. Citizens Jmp started coverage on shares of Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Raymond James Financial boosted their price target on shares of Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. CIBC boosted their price target on shares of Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. National Bankshares boosted their price target on shares of Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus boosted their price target on shares of Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $172.30.

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.