Colliers International Group Inc. (NASDAQ:CIGI) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 747,048 shares of the financial services provider’s stock after selling 22,697 shares during the period. Mackenzie Financial Corp owned approximately 1.53% of Colliers International Group worth $83,432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CIGI. Whittier Trust Co. of Nevada Inc. raised its holdings in Colliers International Group by 575.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 207 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Colliers International Group by 3,377.8% during the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 304 shares during 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. Security National Bank acquired a new position in shares of Colliers International Group during the fourth quarter worth $70,000. Finally, Central Pacific Bank Trust Division purchased a new position in Colliers International Group in the first quarter valued at $118,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Price Performance

Shares of CIGI opened at $148.31 on Friday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 72.35 and a beta of 1.49. Colliers International Group Inc. has a fifty-two week low of $83.38 and a fifty-two week high of $152.84. The firm has a 50-day simple moving average of $140.67 and a 200-day simple moving average of $123.31. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. On average, equities research analysts anticipate that Colliers International Group Inc. will post 5.66 earnings per share for the current year.

Wall Street Analyst Weigh In

CIGI has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. National Bankshares upped their price target on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. Scotiabank increased their target price on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price target on shares of Colliers International Group in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

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.