Clearbridge Investments LLC Reduces Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Clearbridge Investments LLC cut its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 251,310 shares of the financial services provider’s stock after selling 2,652 shares during the quarter. Clearbridge Investments LLC’s holdings in Colliers International Group were worth $34,171,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Plato Investment Management Ltd raised its holdings in Colliers International Group by 16.0% during the 4th quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock valued at $117,000 after buying an additional 118 shares during the period. Tobam raised its stake in shares of Colliers International Group by 12.0% in the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 98 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Colliers International Group in the 4th quarter worth about $145,000. CIBC Private Wealth Group LLC boosted its stake in shares of Colliers International Group by 44.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 378 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Colliers International Group by 112.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,260 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 667 shares during the last quarter. 80.09% of the stock is owned by institutional investors.

Colliers International Group Price Performance

NASDAQ CIGI opened at $122.91 on Wednesday. The company has a market cap of $6.06 billion, a PE ratio of 38.53 and a beta of 1.58. The firm’s 50 day moving average price is $130.05 and its 200-day moving average price is $140.18. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. Colliers International Group Inc. has a 52-week low of $101.01 and a 52-week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. Sell-side analysts forecast that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CIGI has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Colliers International Group from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on Colliers International Group from $165.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Scotiabank cut their price objective on Colliers International Group from $166.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Monday. CIBC started coverage on Colliers International Group in a research report on Tuesday, March 4th. They set a “sector outperform” rating and a $160.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Colliers International Group in a research note on Monday, December 16th. They set a “neutral” rating and a $167.00 target price for the company. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.30.

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.