Addenda Capital Inc. Lowers Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Addenda Capital Inc. trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,420 shares of the financial services provider's stock after selling 15,360 shares during the period. Colliers International Group accounts for about 0.9% of Addenda Capital Inc.'s investment portfolio, making the stock its 29th biggest holding. Addenda Capital Inc. owned approximately 0.33% of Colliers International Group worth $19,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division grew its position in Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Colliers International Group by 6.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 24,776 shares of the financial services provider's stock valued at $3,368,000 after purchasing an additional 1,444 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Colliers International Group by 9.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 128,275 shares of the financial services provider's stock valued at $17,422,000 after purchasing an additional 10,667 shares in the last quarter. Tidal Investments LLC bought a new position in Colliers International Group in the fourth quarter valued at $222,000. Finally, Silvercrest Asset Management Group LLC grew its position in shares of Colliers International Group by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 34,425 shares of the financial services provider's stock valued at $4,681,000 after acquiring an additional 151 shares during the period. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Performance

Shares of CIGI traded up $1.52 during trading hours on Thursday, hitting $126.62. The stock had a trading volume of 82,515 shares, compared to its average volume of 119,428. The firm has a 50-day moving average price of $118.68 and a 200 day moving average price of $130.01. Colliers International Group Inc. has a fifty-two week low of $100.86 and a fifty-two week high of $156.96. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 39.69 and a beta of 1.38. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company's quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current year.

Colliers International Group Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on CIGI shares. Stifel Nicolaus cut their price objective on shares of Colliers International Group from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, April 28th. National Bankshares cut their price target on shares of Colliers International Group from $182.00 to $169.00 and set an "outperform" rating for the company in a report on Friday, February 7th. The Goldman Sachs Group cut their price target 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. Cibc World Mkts raised shares of Colliers International Group to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their price target on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.80.

About Colliers International Group

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.