Colliers International Group Inc. $CIGI Stake Lowered by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 11.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,581,587 shares of the financial services provider’s stock after selling 196,192 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Colliers International Group were worth $142,111,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont acquired a new stake in Colliers International Group during the 2nd quarter valued at approximately $36,000. Global Retirement Partners LLC acquired a new position in shares of Colliers International Group in the 2nd quarter valued at approximately $44,000. Tacita Capital Inc acquired a new position in shares of Colliers International Group in the 2nd quarter valued at approximately $67,000. Nykredit A S purchased a new position in shares of Colliers International Group during the 2nd quarter valued at approximately $84,000. Finally, Callan Family Office LLC purchased a new position in shares of Colliers International Group during the 2nd quarter valued at approximately $228,000. Institutional investors and hedge funds own 80.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CIGI shares. Scotiabank decreased their price target on shares of Colliers International Group from $145.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 28th. Stifel Nicolaus dropped their price target on shares of Colliers International Group from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. National Bank Financial upped their price target on shares of Colliers International Group from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Raymond James Financial cut their price target on shares of Colliers International Group from $160.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Colliers International Group in a research note on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.71.

Colliers International Group Stock Performance

CIGI stock opened at $95.69 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. The firm has a market cap of $4.89 billion, a P/E ratio of 15.41 and a beta of 1.18. Colliers International Group Inc. has a 12-month low of $83.21 and a 12-month high of $153.87. The stock’s 50 day simple moving average is $92.77 and its 200 day simple moving average is $103.25.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Colliers International Group had a return on equity of 21.37% and a net margin of 1.18%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $1.64 earnings per share. As a group, equities research analysts predict that Colliers International Group Inc. will post 6.89 EPS for the current year.

Colliers International Group Profile

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and the built environment. Its services include property leasing and sales, property and facilities management, valuation and advisory, and real estate project management.

The company also provides engineering and consulting services for infrastructure, buildings, and related projects, along with investment management for real estate and other property-related strategies.