Lincluden Management Ltd. Trims Stock Position in Colliers International Group Inc. $CIGI

Key Points

• Lincluden Management Ltd. has reduced its stake in Colliers International Group Inc. by 25.5%, now owning 38,427 shares valued at $5,016,000.
• Colliers International Group reported $1.72 EPS for the last quarter, exceeding the consensus estimate of $1.52, with a total revenue of $1.37 billion.
• Analysts have varied target price upgrades for Colliers, with JPMorgan raising theirs from $137 to $181 and Scotiabank from $170 to $185, reflecting a general positive outlook on the stock.

Lincluden Management Ltd. reduced its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 25.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,427 shares of the financial services provider's stock after selling 13,184 shares during the quarter. Lincluden Management Ltd. owned approximately 0.08% of Colliers International Group worth $5,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Colliers International Group by 1.4% during the 1st quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider's stock valued at $462,816,000 after purchasing an additional 52,414 shares during the period. Durable Capital Partners LP grew its position in shares of Colliers International Group by 12.4% in the 1st quarter. Durable Capital Partners LP now owns 2,972,757 shares of the financial services provider's stock worth $360,595,000 after buying an additional 328,430 shares during the period. Vanguard Group Inc. grew its position in shares of Colliers International Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock worth $230,558,000 after buying an additional 38,379 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Colliers International Group by 56.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider's stock worth $117,140,000 after buying an additional 349,046 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Colliers International Group by 6.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 744,832 shares of the financial services provider's stock worth $90,630,000 after buying an additional 43,550 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Price Performance

CIGI opened at $149.47 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $7.41 billion, a P/E ratio of 67.94 and a beta of 1.44. The company's 50-day simple moving average is $160.94 and its two-hundred day simple moving average is $137.91. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $170.65.

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

Wall Street Analyst Weigh In

CIGI has been the topic of a number of recent research reports. JMP Securities initiated coverage on shares of Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Colliers International Group from $137.00 to $181.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. CIBC upped their target price on shares of Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Stifel Nicolaus upped their target price on shares of Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Scotiabank upped their target price on shares of Colliers International Group from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Colliers International Group presently has an average rating of "Moderate Buy" and an average price target of $173.80.

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.

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