Colliers International Group Inc. $CIGI Stake Lessened by Canoe Financial LP

Key Points

• Canoe Financial LP cut its stake in Colliers International Group by 64.7% in the first quarter, selling 24,843 shares and leaving it with 13,527 shares worth about $1.45 million.
• Colliers reported Q1 EPS of $0.91, slightly below estimates, while revenue came in at $1.13 billion versus expectations of $1.26 billion. Revenue still rose 15.1% year over year.
• The company declared a quarterly dividend of $0.15 per share, payable July 14, implying a 0.6% annualized yield and an 18.52% payout ratio.

Canoe Financial LP lessened its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 64.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,527 shares of the financial services provider's stock after selling 24,843 shares during the period. Canoe Financial LP's holdings in Colliers International Group were worth $1,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CIGI. EverSource Wealth Advisors LLC boosted its position in Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock worth $40,000 after acquiring an additional 63 shares during the period. Cooper Investors PTY Ltd. lifted its position in shares of Colliers International Group by 0.4% in the fourth quarter. Cooper Investors PTY Ltd. now owns 30,217 shares of the financial services provider's stock worth $4,442,000 after purchasing an additional 114 shares in the last quarter. Arax Advisory Partners boosted its holdings in shares of Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock worth $32,000 after purchasing an additional 126 shares during the period. Versor Investments LP grew its position in Colliers International Group by 6.2% during the fourth quarter. Versor Investments LP now owns 2,415 shares of the financial services provider's stock valued at $355,000 after purchasing an additional 142 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in Colliers International Group by 8.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,975 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $92.67 on Monday. The stock has a market capitalization of $4.74 billion, a P/E ratio of 57.20 and a beta of 1.26. The business has a 50-day moving average of $98.92 and a two-hundred day moving average of $117.39. Colliers International Group Inc. has a fifty-two week low of $88.38 and a fifty-two week high of $171.51. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.01). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $0.87 EPS. The business's revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Colliers International Group's dividend payout ratio (DPR) is 18.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CIGI shares. Royal Bank Of Canada decreased their target price on shares of Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Stifel Nicolaus set a $175.00 price target on shares of Colliers International Group in a research note on Friday, March 13th. BMO Capital Markets cut their price objective on Colliers International Group from $180.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. National Bank Financial reduced their price objective on Colliers International Group from $160.00 to $143.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Finally, Zacks Research upgraded Colliers International Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.89.

Colliers International Group Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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