The Manufacturers Life Insurance Company Has $361.31 Million Position in CGI Group, Inc. $GIB

Key Points

• The Manufacturers Life Insurance Company reduced its stake in CGI Group, Inc. by 8.0%, now owning approximately 1.59% of the company valued at $361.3 million.
• Analysts have set an average price target of $148.25 for CGI Group, with a consensus rating of "Buy"; UBS and Royal Bank Of Canada recently adjusted their target prices to $105.00 and $175.00, respectively.
• CGI Group has declared a quarterly dividend of $0.1086 per share, which is an increase from the previous dividend and reflects a yield of 0.5%.

The Manufacturers Life Insurance Company cut its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,599,594 shares of the technology company's stock after selling 312,271 shares during the quarter. The Manufacturers Life Insurance Company owned 1.59% of CGI Group worth $361,307,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Magnetar Financial LLC boosted its stake in shares of CGI Group by 633.1% during the 1st quarter. Magnetar Financial LLC now owns 17,594 shares of the technology company's stock worth $1,756,000 after acquiring an additional 15,194 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of CGI Group by 35.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 956,460 shares of the technology company's stock worth $95,499,000 after acquiring an additional 251,242 shares in the last quarter. Pembroke Management LTD boosted its stake in shares of CGI Group by 98.9% during the 1st quarter. Pembroke Management LTD now owns 15,333 shares of the technology company's stock worth $1,531,000 after acquiring an additional 7,624 shares in the last quarter. State of Wyoming boosted its stake in shares of CGI Group by 1,593.1% during the 1st quarter. State of Wyoming now owns 3,911 shares of the technology company's stock worth $390,000 after acquiring an additional 3,680 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of CGI Group by 53.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 16,128 shares of the technology company's stock worth $1,610,000 after acquiring an additional 5,628 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Group Stock Up 0.1%

Shares of NYSE:GIB traded up $0.09 during midday trading on Wednesday, hitting $96.76. 70,583 shares of the stock were exchanged, compared to its average volume of 283,930. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. CGI Group, Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The business's fifty day simple moving average is $99.09 and its two-hundred day simple moving average is $103.29. The company has a market capitalization of $21.57 billion, a PE ratio of 17.88, a P/E/G ratio of 1.79 and a beta of 0.75.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.01. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.CGI Group's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $1.91 earnings per share. As a group, research analysts predict that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be given a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 annualized dividend and a yield of 0.4%. CGI Group's dividend payout ratio (DPR) is currently 7.95%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada reduced their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. UBS Group reduced their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $148.25.

CGI Group Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.