Envestnet Asset Management Inc. Sells 723 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Envestnet Asset Management Inc. cut its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,673 shares of the financial services provider’s stock after selling 723 shares during the period. Envestnet Asset Management Inc.’s holdings in Colliers International Group were worth $567,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in Colliers International Group by 1,752.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 298 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider’s stock valued at $133,000 after buying an additional 100 shares during the period. Tidal Investments LLC acquired a new position in Colliers International Group in the fourth quarter valued at approximately $222,000. LPL Financial LLC lifted its stake in Colliers International Group by 53.3% in the fourth quarter. LPL Financial LLC now owns 2,723 shares of the financial services provider’s stock valued at $370,000 after buying an additional 947 shares during the period. Finally, Gotham Asset Management LLC lifted its stake in Colliers International Group by 26.8% in the fourth quarter. Gotham Asset Management LLC now owns 2,761 shares of the financial services provider’s stock valued at $375,000 after buying an additional 583 shares during the period. 80.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Scotiabank boosted their price target on Colliers International Group from $155.00 to $170.00 and gave the company a “sector outperform” rating in a research note on Friday, August 1st. Stifel Nicolaus boosted their price target on Colliers International Group from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Royal Bank Of Canada boosted their price target on Colliers International Group from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Citizens Jmp assumed coverage on Colliers International Group in a research note on Monday, July 21st. They issued a “market perform” rating on the stock. Finally, JMP Securities began coverage on Colliers International Group in a research note on Monday, July 21st. They issued a “market perform” rating on the stock. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.40.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $156.66 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $156.96. The stock’s 50 day moving average is $133.48 and its 200-day moving average is $127.88. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 71.21 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.20. Colliers International Group had a return on equity of 17.09% and a net margin of 2.17%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. Colliers International Group’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts forecast that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a yield of 20.0%. Colliers International Group’s dividend payout ratio is 13.64%.

Colliers International Group Company 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.