Colliers International Group Inc. (NASDAQ:CIGI) Shares Sold by Vulcan Value Partners LLC

Key Points

• Vulcan Value Partners LLC has reduced its stake in Colliers International Group by 7.3%, now holding 278,323 shares, valued at approximately $33.76 million.
• During the first quarter, other institutional investors showed significant increases in their holdings, with TCTC Holdings increasing its stake by 114.9% and Tower Research Capital boosting its holdings by a staggering 1,752.9%.
• Colliers International Group reported a loss in earnings for the recent quarter, with EPS of $0.87, missing analysts' expectations of $0.91, and quarterly revenue of $1.09 billion against the forecast of $1.15 billion.

Vulcan Value Partners LLC decreased its position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 278,323 shares of the financial services provider's stock after selling 21,865 shares during the period. Colliers International Group accounts for approximately 0.6% of Vulcan Value Partners LLC's portfolio, making the stock its 28th biggest holding. Vulcan Value Partners LLC owned about 0.56% of Colliers International Group worth $33,761,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MQS Management LLC acquired a new position in shares of Colliers International Group in the first quarter valued at approximately $527,000. Millennium Management LLC acquired a new position in shares of Colliers International Group in the fourth quarter valued at approximately $3,587,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Colliers International Group by 4.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock valued at $12,869,000 after purchasing an additional 4,153 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Colliers International Group by 1.1% in the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock valued at $84,548,000 after purchasing an additional 7,815 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Colliers International Group by 102.5% in the fourth quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock valued at $12,678,000 after purchasing an additional 47,195 shares during the period. Institutional investors and hedge funds own 80.09% of the company's stock.

Colliers International Group Stock Up 2.6%

CIGI traded up $3.89 on Tuesday, reaching $155.98. The company's stock had a trading volume of 117,232 shares, compared to its average volume of 132,420. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 70.89 and a beta of 1.44. Colliers International Group Inc. has a 1 year low of $100.86 and a 1 year high of $156.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. The business's 50 day moving average is $132.78 and its 200 day moving average is $127.68.

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 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.20. Colliers International Group had a return on equity of 21.13% and a net margin of 2.17%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $1.36 EPS. Colliers International Group's quarterly revenue was up 18.3% compared to the same quarter last year. As a group, research analysts forecast that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Colliers International Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CIGI shares. Stifel Nicolaus lifted their price target on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Friday. Raymond James Financial lifted their price target on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday. Citizens Jmp started coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. decreased their price target on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, JMP Securities started coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.40.

Colliers International Group Profile

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.