The Manufacturers Life Insurance Company decreased its holdings in Colliers International Group Inc. (NASDAQ:CIGI) by 28.9% during the fourth quarter. The company owned 701,282 shares valued at $95,495,000 at the end of the reporting period, representing 1.42% of the financial services provider’s stock.
Other institutional investors have also adjusted their stakes in CIGI. Tower Research Capital LLC increased its holdings by 1,752.9%, now owning 315 shares worth $43,000. Plato Investment Management Ltd boosted its stake by 16.0%, holding 856 shares valued at $117,000. Tobam grew its holdings by 12.0%, owning 913 shares worth $124,000. Venturi Wealth Management LLC acquired a new stake worth approximately $145,000, while CIBC Private Wealth Group LLC increased its position by 44.9%, now holding 1,220 shares valued at $164,000.
Institutional investors and hedge funds collectively own 80.09% of Colliers International Group’s stock. The company’s shares opened at $117.96 on Wednesday, with a fifty-day simple moving average of $119.71 and a 200-day simple moving average of $134.96. Colliers International Group has a market capitalization of $5.82 billion and a price-to-earnings ratio of 36.98.
The company recently reported quarterly earnings of $1.87 per share, missing the consensus estimate of $2.40. Analysts have issued various ratings and price targets for CIGI, with a consensus rating of “Moderate Buy” and an average price target of $161.80.
