Burgundy Asset Management Ltd. Decreases Stock Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Burgundy Asset Management Ltd. trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 434,596 shares of the financial services provider's stock after selling 3,158 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.88% of Colliers International Group worth $59,042,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CIGI. Durable Capital Partners LP boosted its holdings in Colliers International Group by 4.0% in the fourth quarter. Durable Capital Partners LP now owns 2,644,327 shares of the financial services provider's stock worth $359,549,000 after purchasing an additional 102,586 shares during the last quarter. Vanguard Group Inc. increased its position in Colliers International Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,866,793 shares of the financial services provider's stock valued at $253,867,000 after acquiring an additional 21,422 shares during the last quarter. FIL Ltd increased its position in Colliers International Group by 116.5% during the fourth quarter. FIL Ltd now owns 1,547,527 shares of the financial services provider's stock valued at $210,449,000 after acquiring an additional 832,583 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in Colliers International Group by 3.4% in the fourth quarter. Alberta Investment Management Corp now owns 626,422 shares of the financial services provider's stock valued at $85,143,000 after acquiring an additional 20,794 shares during the period. Finally, Norges Bank purchased a new position in Colliers International Group in the fourth quarter worth about $74,615,000. 80.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CIGI. JPMorgan Chase & Co. reduced 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 report on Thursday, April 10th. Scotiabank dropped their target price on Colliers International Group from $165.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wall Street Zen lowered Colliers International Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. The Goldman Sachs Group decreased their price objective on shares of Colliers International Group from $165.00 to $145.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Finally, William Blair restated an "outperform" rating on shares of Colliers International Group in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.80.

Colliers International Group Stock Performance

NASDAQ:CIGI traded down $0.43 during mid-day trading on Wednesday, hitting $121.30. The company's stock had a trading volume of 20,559 shares, compared to its average volume of 118,648. The business's fifty day moving average is $118.92 and its two-hundred day moving average is $130.99. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 38.03 and a beta of 1.38. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.06 and a quick ratio of 1.06. Colliers International Group Inc. has a 1 year low of $100.86 and a 1 year high of $156.96.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.87 EPS 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 20.38% and a net margin of 3.35%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. Analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.15 per share. This represents a dividend yield of 0.2%. The ex-dividend date is Monday, June 30th. Colliers International Group's dividend payout ratio (DPR) is 10.53%.

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.