Colliers International Group Inc. $CIGI Stock Position Decreased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management cut its stake in Colliers by 67.1% in Q4, selling 89,951 shares and now holds 44,176 shares (~0.09%) valued at about $6.50 million.
• Institutional ownership is high at 80.09%, with other managers either adding positions (e.g., Thrivent's new ~$19.16M stake, Manulife's 903,500 shares worth ~$117.6M) or boosting holdings.
• Analysts are cautiously positive: the consensus rating is Moderate Buy with a consensus price target of $170.71, though several banks have recently lowered their price targets.

Cidel Asset Management Inc. trimmed its position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 67.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,176 shares of the financial services provider's stock after selling 89,951 shares during the quarter. Cidel Asset Management Inc. owned approximately 0.09% of Colliers International Group worth $6,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Intact Investment Management Inc. increased its stake in shares of Colliers International Group by 19.3% during the 3rd quarter. Intact Investment Management Inc. now owns 75,180 shares of the financial services provider's stock worth $11,759,000 after purchasing an additional 12,140 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Colliers International Group during the 3rd quarter valued at $19,158,000. Citigroup Inc. lifted its stake in shares of Colliers International Group by 1,164.9% in the 3rd quarter. Citigroup Inc. now owns 54,745 shares of the financial services provider's stock valued at $8,564,000 after purchasing an additional 50,417 shares during the last quarter. Brummer Multi Strategy AB acquired a new stake in shares of Colliers International Group in the 3rd quarter valued at $691,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Colliers International Group by 21.3% in the second quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider's stock worth $117,619,000 after purchasing an additional 158,668 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Colliers International Group in a report on Wednesday, January 21st. Scotiabank decreased their price target on Colliers International Group from $185.00 to $155.00 and set an "outperform" rating for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada lowered their price objective on Colliers International Group from $180.00 to $160.00 and set an "outperform" rating on the stock in a report on Monday, March 30th. National Bank Financial cut their price objective on Colliers International Group from $185.00 to $160.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. Finally, Wall Street Zen lowered Colliers International Group from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Colliers International Group presently has an average rating of "Moderate Buy" and a consensus price target of $170.71.

Colliers International Group Price Performance

Colliers International Group stock opened at $107.59 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 1.10. Colliers International Group Inc. has a fifty-two week low of $95.66 and a fifty-two week high of $171.51. The firm has a fifty day moving average price of $117.34 and a two-hundred day moving average price of $138.65. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 53.53 and a beta of 1.45.

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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