Turtle Creek Asset Management Inc. Cuts Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Turtle Creek Asset Management Inc. lessened its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,284,723 shares of the financial services provider's stock after selling 43,900 shares during the period. Colliers International Group makes up 4.5% of Turtle Creek Asset Management Inc.'s portfolio, making the stock its 7th biggest position. Turtle Creek Asset Management Inc. owned about 2.61% of Colliers International Group worth $174,684,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in Colliers International Group by 37.7% in the fourth quarter. Sei Investments Co. now owns 13,179 shares of the financial services provider's stock valued at $1,792,000 after buying an additional 3,606 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Colliers International Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,866,793 shares of the financial services provider's stock valued at $253,867,000 after acquiring an additional 21,422 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Colliers International Group in the 4th quarter worth approximately $1,259,000. Norges Bank bought a new stake in Colliers International Group during the 4th quarter worth approximately $74,615,000. Finally, Thrivent Financial for Lutherans increased its holdings in Colliers International Group by 49.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 25,485 shares of the financial services provider's stock valued at $3,465,000 after purchasing an additional 8,484 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com lowered Colliers International Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 20th. The Goldman Sachs Group decreased their price objective on shares of Colliers International Group from $165.00 to $145.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. National Bankshares reduced their target price on shares of Colliers International Group from $182.00 to $169.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Scotiabank lowered their price target on shares of Colliers International Group from $165.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, CIBC started coverage on Colliers International Group in a research report on Tuesday, March 4th. They issued a "sector outperform" rating and a $160.00 price objective for the company. 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 stock. Based on data from MarketBeat, Colliers International Group currently has an average rating of "Moderate Buy" and an average target price of $160.80.

Colliers International Group Trading Up 1.0%

NASDAQ CIGI traded up $1.22 during trading on Tuesday, reaching $125.59. 141,943 shares of the stock traded hands, compared to its average volume of 116,095. Colliers International Group Inc. has a fifty-two week low of $100.86 and a fifty-two week high of $156.96. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.13. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 39.37 and a beta of 1.38. The stock's 50-day moving average price is $119.37 and its 200 day moving average price is $132.08.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts predict that Colliers International Group Inc. will post 6.2 EPS for the current year.

Colliers International Group Announces Dividend

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

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.