Montrusco Bolton Investments Inc. Sells 8,523 Shares of Colliers International Group Inc. $CIGI

Montrusco Bolton Investments Inc. trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 123,569 shares of the financial services provider’s stock after selling 8,523 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Colliers International Group were worth $11,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp purchased a new position in shares of Colliers International Group during the 4th quarter worth $47,799,000. Wellington Management Group LLP purchased a new stake in shares of Colliers International Group in the 2nd quarter worth $41,488,000. BlackRock Inc. purchased a new stake in shares of Colliers International Group in the 2nd quarter worth $8,692,000. Bank of America Corp DE purchased a new stake in shares of Colliers International Group in the 2nd quarter worth $37,034,000. Finally, The Manufacturers Life Insurance Company bought a new position in Colliers International Group in the 2nd quarter worth $292,656,000. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Price Performance

Shares of CIGI traded down $0.42 during mid-day trading on Tuesday, reaching $85.98. The stock had a trading volume of 279,324 shares, compared to its average volume of 293,254. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 40.94 and a beta of 1.23. Colliers International Group Inc. has a 12 month low of $83.70 and a 12 month high of $171.51. The business has a fifty day moving average of $96.54 and a 200 day moving average of $99.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. Equities analysts predict that Colliers International Group Inc. will post 6.92 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CIGI shares. Scotiabank lowered their target price on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. National Bank Financial boosted their price target on Colliers International Group from $109.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Weiss Ratings upgraded Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Scotia decreased their price objective on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Colliers International Group in a research report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Colliers International Group has a consensus rating of “Moderate Buy” and a consensus target price of $154.62.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.