Bank of New York Mellon Corp trimmed its position in Colliers International Group Inc. (NASDAQ:CIGI – Free Report) (TSE:CIGI) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,442 shares of the financial services provider’s stock after selling 25,504 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.26% of Colliers International Group worth $11,728,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Grayhawk Investment Strategies Inc. purchased a new stake in Colliers International Group during the 1st quarter worth about $79,000. Power Corp of Canada purchased a new position in Colliers International Group in the first quarter valued at approximately $72,000. Citigroup Inc. acquired a new stake in Colliers International Group during the first quarter worth approximately $75,000. JPMorgan Chase & Co. purchased a new stake in shares of Colliers International Group during the 1st quarter worth approximately $123,000. Finally, Quantbot Technologies LP raised its stake in Colliers International Group by 1,500.0% during the 2nd quarter. Quantbot Technologies LP now owns 1,600 shares of the financial services provider’s stock worth $175,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 63.93% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. National Bankshares dropped their price objective on Colliers International Group from $131.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Royal Bank of Canada reduced their price objective on Colliers International Group from $130.00 to $121.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. BMO Capital Markets lowered their target price on shares of Colliers International Group from $131.00 to $107.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Scotiabank reduced their price target on shares of Colliers International Group from $130.00 to $122.50 and set an “outperform” rating for the company in a research report on Tuesday, October 10th. Finally, StockNews.com started coverage on shares of Colliers International Group in a research note on Thursday, October 5th. They set a “hold” rating for the company. One research 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $127.44.
Colliers International Group Price Performance
Shares of NASDAQ CIGI opened at $103.13 on Friday. The stock has a fifty day moving average price of $97.55 and a 200 day moving average price of $100.29. Colliers International Group Inc. has a 1-year low of $83.38 and a 1-year high of $129.95. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $4.74 billion, a PE ratio of 251.54 and a beta of 1.48.
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. It offers transaction brokerage services, including sales, leasing, and debt finance services, as well as landlord and tenant representation services; capital markets and investment services; and mortgage investment banking services.
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