Kornitzer Capital Management Inc. KS Lowers Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Kornitzer Capital Management Inc. KS lowered its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 19.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,884 shares of the financial services provider’s stock after selling 1,376 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Colliers International Group were worth $800,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of Colliers International Group by 197.8% during the 3rd quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 619 shares during the last quarter. Whittier Trust Co. increased its position in shares of Colliers International Group by 8.4% in the 3rd quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 277 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Colliers International Group by 26.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 124 shares during the period. Argent Capital Management LLC increased its position in shares of Colliers International Group by 30.0% in the 3rd quarter. Argent Capital Management LLC now owns 38,477 shares of the financial services provider’s stock valued at $5,841,000 after acquiring an additional 8,869 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Colliers International Group in the 3rd quarter valued at $702,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

Shares of CIGI opened at $131.95 on Thursday. Colliers International Group Inc. has a fifty-two week low of $101.01 and a fifty-two week high of $156.96. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $6.50 billion, a P/E ratio of 41.36 and a beta of 1.49. The business’s 50-day moving average is $137.23 and its two-hundred day moving average is $143.32.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates 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 predict that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Colliers International Group Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, December 31st. Colliers International Group’s dividend payout ratio (DPR) is presently 9.40%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CIGI. Scotiabank cut their target price on Colliers International Group from $170.00 to $166.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 7th. Raymond James cut their target price on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. began coverage on Colliers International Group in a research report on Monday, December 16th. They issued a “neutral” rating and a $167.00 target price on the stock. BMO Capital Markets cut their target price on Colliers International Group from $177.00 to $172.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th. Finally, StockNews.com raised Colliers International Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.63.

About Colliers International Group

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.