Colliers International Group Inc. (NASDAQ:CIGI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Colliers International Group by 18.4%, selling 33,800 shares to own 149,600 shares valued at approximately $18.1 million.
• A variety of hedge funds have adjusted their positions in Colliers International Group, with TCTC Holdings LLC increasing its stake by 114.9%, and institutional investors now owning 80.09% of the company.
• Colliers International Group reported $1.72 earnings per share for the last quarter, surpassing expectations, and has raised its target price by several analysts, reflecting a positive outlook.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,600 shares of the financial services provider's stock after selling 33,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.30% of Colliers International Group worth $18,107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CIGI. TCTC Holdings LLC boosted its holdings in Colliers International Group by 114.9% in the first quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock worth $26,000 after purchasing an additional 116 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Colliers International Group by 1,752.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock worth $43,000 after purchasing an additional 298 shares during the period. Central Pacific Bank Trust Division boosted its holdings 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 worth $133,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Colliers International Group by 13.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider's stock worth $174,000 after purchasing an additional 175 shares during the period. Finally, Tidal Investments LLC acquired a new position in Colliers International Group in the fourth quarter worth $222,000. Institutional investors and hedge funds own 80.09% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CIGI. JMP Securities initiated coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. CIBC raised their target price on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their target price on Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Citizens Jmp initiated coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Finally, Scotiabank raised their target price on Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $168.40.

Colliers International Group Price Performance

NASDAQ:CIGI opened at $157.25 on Friday. The business's 50-day moving average price is $135.67 and its 200 day moving average price is $128.24. The firm has a market cap of $7.78 billion, a P/E ratio of 71.48 and a beta of 1.44. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $158.80. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.20. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%. Colliers International Group's revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 earnings per share. As a group, sell-side analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Colliers International Group Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a dividend of $0.15 per share. This represents a yield of 20.0%. The ex-dividend date of this dividend was Monday, June 30th. Colliers International Group's payout ratio is presently 13.64%.

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.

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