PCJ Investment Counsel Ltd. Has $6.68 Million Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

PCJ Investment Counsel Ltd. trimmed its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 15.2% during the third quarter, HoldingsChannel.com reports. The fund owned 44,020 shares of the financial services provider’s stock after selling 7,890 shares during the period. Colliers International Group makes up approximately 2.1% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 14th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Colliers International Group were worth $6,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Colliers International Group by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock valued at $159,016,000 after acquiring an additional 5,152 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Colliers International Group by 47.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock valued at $112,834,000 after acquiring an additional 326,453 shares during the period. Victory Capital Management Inc. raised its position in shares of Colliers International Group by 5.9% in the 2nd quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock valued at $82,973,000 after acquiring an additional 41,225 shares during the period. Bank of Montreal Can raised its position in shares of Colliers International Group by 0.9% in the 2nd quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock valued at $76,703,000 after acquiring an additional 6,178 shares during the period. Finally, Vulcan Value Partners LLC raised its position in shares of Colliers International Group by 4.6% in the 2nd quarter. Vulcan Value Partners LLC now owns 454,181 shares of the financial services provider’s stock valued at $50,767,000 after acquiring an additional 20,150 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Price Performance

Shares of CIGI opened at $143.53 on Wednesday. Colliers International Group Inc. has a twelve month low of $101.01 and a twelve month high of $156.96. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average of $149.31 and a 200-day moving average of $132.57. The stock has a market capitalization of $7.05 billion, a P/E ratio of 45.71 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Colliers International Group Inc. will post 5.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on CIGI shares. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their target price on shares of Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. BMO Capital Markets raised their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.42.

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.