Victory Capital Management Inc. Lowers Holdings in Colliers International Group Inc. $CIGI

Key Points

• Victory Capital cut its stake in Colliers by 44.8% in Q3, selling 313,335 shares and now holding 385,570 shares valued at roughly $60.2 million (about 0.78% of the company).
• Institutional ownership is high (~80.1%) and, despite recent position shifts, analysts maintain a consensus of Moderate Buy with an average price target of $170 while the stock trades near $116 and has a P/E of 57.7.

Victory Capital Management Inc. reduced its position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 44.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,570 shares of the financial services provider's stock after selling 313,335 shares during the quarter. Victory Capital Management Inc. owned 0.78% of Colliers International Group worth $60,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CIGI. Goldman Sachs Group Inc. lifted its position in shares of Colliers International Group by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider's stock valued at $15,698,000 after buying an additional 56,755 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Colliers International Group by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider's stock worth $5,508,000 after buying an additional 505 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Colliers International Group by 57.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 7,358 shares of the financial services provider's stock worth $961,000 after acquiring an additional 2,685 shares in the last quarter. Cornerstone Investment Partners LLC raised its stake in shares of Colliers International Group by 3.6% during the 2nd quarter. Cornerstone Investment Partners LLC now owns 2,193 shares of the financial services provider's stock worth $286,000 after acquiring an additional 77 shares in the last quarter. Finally, Greenland Capital Management LP purchased a new stake in Colliers International Group during the second quarter valued at approximately $2,886,000. Hedge funds and other institutional investors own 80.09% of the company's stock.

Colliers International Group Price Performance

Shares of CIGI opened at $116.05 on Friday. Colliers International Group Inc. has a fifty-two week low of $98.97 and a fifty-two week high of $171.51. The firm's 50 day moving average price is $133.32 and its 200 day moving average price is $147.32. The company has a market cap of $5.78 billion, a P/E ratio of 57.74 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.06.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CIGI. Royal Bank Of Canada dropped their target price on Colliers International Group from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. Stifel Nicolaus cut their price objective on Colliers International Group from $195.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Weiss Ratings restated a "hold (c)" rating on shares of Colliers International Group in a report on Wednesday, January 21st. Scotiabank dropped their target price on shares of Colliers International Group from $185.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. Finally, Wall Street Zen lowered shares of Colliers International Group from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $170.00.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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