Fenimore Asset Management Inc Sells 555 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Fenimore Asset Management Inc cut its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,653 shares of the financial services provider’s stock after selling 555 shares during the period. Fenimore Asset Management Inc’s holdings in Colliers International Group were worth $32,042,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in Colliers International Group by 100.8% in the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock valued at $102,261,000 after buying an additional 340,691 shares during the period. Empowered Funds LLC boosted its holdings in shares of Colliers International Group by 60.5% in the third quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 4,678 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Colliers International Group in the third quarter valued at approximately $2,581,000. Barclays PLC purchased a new position in Colliers International Group during the 3rd quarter worth $1,629,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Colliers International Group during the 3rd quarter valued at $3,543,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CIGI shares. JPMorgan Chase & Co. assumed coverage on Colliers International Group in a research report on Monday, December 16th. They set a “neutral” rating and a $167.00 price target on the stock. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Raymond James upped their price target on shares of Colliers International Group from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday. Scotiabank lifted their price objective on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their target price on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $164.31.

Colliers International Group Price Performance

NASDAQ CIGI opened at $141.35 on Friday. The firm’s fifty day simple moving average is $141.67 and its two-hundred day simple moving average is $142.35. The firm has a market capitalization of $7.13 billion, a P/E ratio of 45.02 and a beta of 1.49. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42. Colliers International Group Inc. has a 12-month low of $101.01 and a 12-month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.17). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. Analysts forecast that Colliers International Group Inc. will post 5.41 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 0.2%. Colliers International Group’s dividend payout ratio is currently 9.55%.

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.