Pembroke Management LTD Cuts Position in Colliers International Group Inc (NASDAQ:CIGI)

Pembroke Management LTD decreased its stake in Colliers International Group Inc (NASDAQ:CIGI) (TSE:CIGI) by 2.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 455,750 shares of the financial services provider’s stock after selling 9,450 shares during the period. Colliers International Group comprises 4.5% of Pembroke Management LTD’s holdings, making the stock its 2nd largest position. Pembroke Management LTD’s holdings in Colliers International Group were worth $42,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Waratah Capital Advisors Ltd. raised its stake in Colliers International Group by 23.0% during the 2nd quarter. Waratah Capital Advisors Ltd. now owns 505,099 shares of the financial services provider’s stock valued at $36,137,000 after acquiring an additional 94,365 shares in the last quarter. Fenimore Asset Management Inc. raised its stake in Colliers International Group by 6.7% during the 2nd quarter. Fenimore Asset Management Inc. now owns 159,960 shares of the financial services provider’s stock valued at $11,456,000 after acquiring an additional 10,000 shares in the last quarter. Marshall Wace North America L.P. raised its stake in Colliers International Group by 321.4% during the 1st quarter. Marshall Wace North America L.P. now owns 5,900 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 4,500 shares in the last quarter. Marshall Wace LLP raised its stake in Colliers International Group by 59.0% during the 1st quarter. Marshall Wace LLP now owns 9,103 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 3,379 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Colliers International Group by 3.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 814,629 shares of the financial services provider’s stock valued at $54,385,000 after acquiring an additional 29,042 shares in the last quarter. 67.94% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on CIGI. Royal Bank of Canada cut their target price on Colliers International Group from $87.00 to $83.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. ValuEngine raised Colliers International Group from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James set a $85.00 target price on Colliers International Group and gave the company an “outperform” rating in a research note on Wednesday. BMO Capital Markets set a $81.00 target price on Colliers International Group and gave the company a “buy” rating in a research note on Wednesday. Finally, BidaskClub raised Colliers International Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Colliers International Group has an average rating of “Buy” and a consensus price target of $78.33.

Colliers International Group stock traded down $0.31 during mid-day trading on Friday, hitting $72.36. 36,955 shares of the company’s stock traded hands, compared to its average volume of 64,795. The company has a 50 day moving average price of $72.40. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.03 and a current ratio of 0.88. The firm has a market cap of $2.78 billion, a P/E ratio of 29.53 and a beta of 1.54. Colliers International Group Inc has a one year low of $52.01 and a one year high of $84.20.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.23). Colliers International Group had a net margin of 3.15% and a return on equity of 23.99%. The firm had revenue of $745.50 million for the quarter, compared to analyst estimates of $750.85 million. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Colliers International Group Inc will post 3.11 earnings per share for the current year.

The company also recently declared a semiannual dividend, which was paid on Tuesday, July 9th. Stockholders of record on Friday, June 28th were given a dividend of $0.05 per share. This represents a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, June 27th. Colliers International Group’s dividend payout ratio (DPR) is presently 4.08%.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

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Institutional Ownership by Quarter for Colliers International Group (NASDAQ:CIGI)

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