Colliers International Group Inc. (NASDAQ:CIGI) Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,763,056 shares of the financial services provider's stock after selling 267,307 shares during the period. Royal Bank of Canada owned about 7.64% of Colliers International Group worth $511,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in Colliers International Group by 1,752.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 298 shares in the last quarter. Plato Investment Management Ltd lifted its position in Colliers International Group by 16.0% during the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 118 shares during the last quarter. Tobam grew its position in Colliers International Group by 12.0% in the fourth quarter. Tobam now owns 913 shares of the financial services provider's stock worth $124,000 after acquiring an additional 98 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Colliers International Group during the fourth quarter worth approximately $145,000. Finally, CIBC Private Wealth Group LLC raised its position in Colliers International Group by 44.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider's stock valued at $164,000 after purchasing an additional 378 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

NASDAQ:CIGI traded up $1.22 during trading hours on Tuesday, hitting $125.59. 141,943 shares of the company were exchanged, compared to its average volume of 116,095. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 39.37 and a beta of 1.38. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $156.96. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.06 and a quick ratio of 1.06. The company'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 data on Tuesday, May 6th. The financial services provider reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. As a group, research analysts forecast that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Colliers International Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Cibc World Mkts raised shares of Colliers International Group to a "strong-buy" rating in a research note on Tuesday, March 4th. StockNews.com downgraded shares of Colliers International Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. Colliers Securities set a $160.00 price objective on Colliers International Group in a research report on Tuesday, March 4th. Raymond James cut their target price on Colliers International Group from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Colliers International Group from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Four investment 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 company's stock. According to MarketBeat.com, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average target price of $160.80.

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.