Massachusetts Financial Services Co. MA Reduces Stock Position in Colliers International Group Inc. (NASDAQ:CIGI)

Massachusetts Financial Services Co. MA trimmed its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,943 shares of the financial services provider’s stock after selling 688 shares during the period. Massachusetts Financial Services Co. MA owned about 0.13% of Colliers International Group worth $7,028,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. William Blair Investment Management LLC lifted its stake in shares of Colliers International Group by 8.3% during the second quarter. William Blair Investment Management LLC now owns 125,302 shares of the financial services provider’s stock valued at $13,990,000 after buying an additional 9,603 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Colliers International Group by 5.9% during the second quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock worth $82,973,000 after purchasing an additional 41,225 shares during the last quarter. National Bank of Canada FI grew its position in shares of Colliers International Group by 2.1% in the second quarter. National Bank of Canada FI now owns 69,729 shares of the financial services provider’s stock valued at $7,514,000 after purchasing an additional 1,465 shares during the period. TD Asset Management Inc increased its stake in Colliers International Group by 1.0% in the second quarter. TD Asset Management Inc now owns 204,915 shares of the financial services provider’s stock valued at $22,878,000 after purchasing an additional 2,044 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new position in Colliers International Group during the second quarter worth about $6,970,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Stifel Nicolaus upped their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. National Bankshares lifted their price target on shares of 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 Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. Finally, Scotiabank lifted their target price on Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Colliers International Group Stock Up 0.2 %

Shares of Colliers International Group stock opened at $149.09 on Friday. Colliers International Group Inc. has a twelve month low of $83.38 and a twelve month high of $150.38. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 72.73 and a beta of 1.49. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average price of $138.60 and a 200 day moving average price of $122.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. Colliers International Group’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Equities research analysts forecast that Colliers International Group Inc. will post 5.51 earnings per share for the current fiscal year.

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.