Colliers International Group Inc. (NASDAQ:CIGI) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lowered its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 5.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,594 shares of the financial services provider’s stock after selling 4,350 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Colliers International Group were worth $12,539,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CIGI. PNC Financial Services Group Inc. increased its stake in Colliers International Group by 252.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock worth $56,000 after buying an additional 316 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Colliers International Group in the first quarter worth about $229,000. Tobam boosted its holdings in Colliers International Group by 185.5% in the first quarter. Tobam now owns 1,302 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 846 shares during the last quarter. Whittier Trust Co. increased its holdings in Colliers International Group by 16.4% during the 1st quarter. Whittier Trust Co. now owns 3,764 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 529 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Colliers International Group by 575.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

Shares of NASDAQ CIGI opened at $151.94 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The firm’s 50-day moving average price is $147.86 and its two-hundred day moving average price is $128.79. Colliers International Group Inc. has a 52-week low of $83.38 and a 52-week high of $156.29. The stock has a market capitalization of $7.46 billion, a P/E ratio of 51.68 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. As a group, sell-side analysts forecast that Colliers International Group Inc. will post 5.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

CIGI has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. National Bankshares boosted their target price on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Raymond James lowered Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $150.00 to $160.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their target price on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.33.

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.