Wellington Management Group LLP Sells 133,257 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Wellington Management Group LLP cut its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 87.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,707 shares of the financial services provider’s stock after selling 133,257 shares during the quarter. Wellington Management Group LLP’s holdings in Colliers International Group were worth $2,679,000 at the end of the most recent quarter.

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

Colliers International Group Stock Performance

Shares of CIGI opened at $111.55 on Friday. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 34.97 and a beta of 1.36. The business’s fifty day simple moving average is $124.23 and its two-hundred day simple moving average is $137.85. Colliers International Group Inc. has a 12 month low of $100.86 and a 12 month high of $156.96. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.13.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.87 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%. Research analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CIGI. The Goldman Sachs Group lowered their price objective on Colliers International Group from $165.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Scotiabank dropped their price objective on shares of Colliers International Group from $166.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 31st. William Blair reaffirmed an “outperform” rating on shares of Colliers International Group in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of Colliers International Group from $167.00 to $142.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Colliers Securities set a $160.00 price target on Colliers International Group in a research note on Tuesday, March 4th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.80.

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.