Toronto Dominion Bank Cuts Stock Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Toronto Dominion Bank cut its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 40.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,411 shares of the financial services provider’s stock after selling 11,353 shares during the period. Toronto Dominion Bank’s holdings in Colliers International Group were worth $2,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CIGI. Whittier Trust Co. of Nevada Inc. grew its holdings in Colliers International Group by 575.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Colliers International Group by 252.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 316 shares in the last quarter. Tobam purchased a new position in Colliers International Group in the fourth quarter valued at $58,000. Security National Bank acquired a new stake in Colliers International Group in the fourth quarter valued at $70,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Colliers International Group during the 1st quarter worth about $118,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Stock Performance

Shares of CIGI opened at $139.43 on Friday. The company’s 50 day simple moving average is $115.58 and its 200-day simple moving average is $116.07. The firm has a market cap of $6.83 billion, a PE ratio of 68.01 and a beta of 1.50. Colliers International Group Inc. has a 12-month low of $83.38 and a 12-month high of $140.30. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.15.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.20). The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.03 million. Colliers International Group had a return on equity of 26.28% and a net margin of 2.25%. As a group, equities analysts predict that Colliers International Group Inc. will post 5.51 EPS for the current year.

Colliers International Group Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a $0.15 dividend. This represents a yield of 0.3%. The ex-dividend date was Friday, June 28th. Colliers International Group’s dividend payout ratio (DPR) is presently 14.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James increased their price objective on Colliers International Group from $145.00 to $150.00 and gave the company a “strong-buy” rating in a report on Wednesday, June 5th. Scotiabank raised their price objective on shares of Colliers International Group from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $145.00 target price on shares of Colliers International Group in a report on Tuesday, June 4th. Finally, BMO Capital Markets lifted their price target on shares of Colliers International Group from $137.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

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.