Massachusetts Financial Services Co. MA Purchases Shares of 55,379 Colliers International Group Inc. (NASDAQ:CIGI)

Massachusetts Financial Services Co. MA bought a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 55,379 shares of the financial services provider's stock, valued at approximately $7,007,000. Massachusetts Financial Services Co. MA owned about 0.12% of Colliers International Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CIGI. Tobam purchased a new stake in Colliers International Group during the 4th quarter valued at about $58,000. Avantax Advisory Services Inc. purchased a new stake in shares of Colliers International Group in the fourth quarter worth about $203,000. Compass Ion Advisors LLC purchased a new stake in shares of Colliers International Group in the third quarter worth about $219,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Colliers International Group in the fourth quarter worth about $252,000. Finally, Bank of Nova Scotia boosted its stake in shares of Colliers International Group by 7.2% in the third quarter. Bank of Nova Scotia now owns 2,796 shares of the financial services provider's stock worth $266,000 after buying an additional 187 shares during the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Price Performance

Shares of Colliers International Group stock traded down $0.65 during mid-day trading on Monday, reaching $115.24. 43,168 shares of the stock traded hands, compared to its average volume of 114,921. The business has a 50-day moving average of $114.61 and a 200 day moving average of $114.56. Colliers International Group Inc. has a fifty-two week low of $83.38 and a fifty-two week high of $131.05. The stock has a market capitalization of $5.64 billion, a PE ratio of 56.21 and a beta of 1.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.15.

Colliers International Group Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 28th. This represents a dividend yield of 0.3%. Colliers International Group's payout ratio is currently 14.63%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CIGI. Scotiabank lowered their target price on Colliers International Group from $140.00 to $135.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, April 17th. Raymond James upped their price target on Colliers International Group from $140.00 to $145.00 and gave the stock a "strong-buy" rating in a report on Friday, February 9th. Stifel Nicolaus upped their price target on Colliers International Group from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Royal Bank of Canada reduced their price target on Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. Finally, BMO Capital Markets upped their price target on Colliers International Group from $129.00 to $137.00 and gave the stock an "outperform" rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Colliers International Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.57.

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.