Colliers International Group Inc. $CIGI Shares Sold by CI Investments Inc.

CI Investments Inc. decreased its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 16.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,387 shares of the financial services provider’s stock after selling 14,559 shares during the quarter. CI Investments Inc.’s holdings in Colliers International Group were worth $11,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Durable Capital Partners LP raised its position in Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock valued at $473,273,000 after purchasing an additional 652,744 shares during the period. Vanguard Group Inc. boosted its position in shares of Colliers International Group by 2.1% in the third quarter. Vanguard Group Inc. now owns 1,972,502 shares of the financial services provider’s stock worth $308,497,000 after buying an additional 39,902 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Colliers International Group by 21.3% in the second quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider’s stock valued at $117,619,000 after buying an additional 158,668 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Colliers International Group by 0.4% during the 2nd quarter. Bank of Montreal Can now owns 686,130 shares of the financial services provider’s stock valued at $89,830,000 after buying an additional 2,943 shares during the period. Finally, Norges Bank acquired a new position in Colliers International Group during the 2nd quarter worth approximately $74,820,000. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $117.25 on Wednesday. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 58.33 and a beta of 1.40. Colliers International Group Inc. has a one year low of $98.97 and a one year high of $171.51. The company’s 50-day simple moving average is $135.25 and its 200-day simple moving average is $148.05. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.10 and a current ratio of 1.10.

Analyst Ratings Changes

CIGI has been the subject of several recent research reports. Wall Street Zen downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Zacks Research lowered shares of Colliers International Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Royal Bank Of Canada cut their price objective on shares of Colliers International Group from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. National Bank Financial decreased their price objective on shares of Colliers International Group from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Finally, Raymond James Financial dropped their target price on Colliers International Group from $200.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Colliers International Group presently has an average rating of “Moderate Buy” and a consensus target price of $170.00.

Colliers International Group Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.