Cidel Asset Management Inc. Increases Holdings in Colliers International Group Inc. $CIGI

Cidel Asset Management Inc. lifted its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,280 shares of the financial services provider’s stock after purchasing an additional 1,756 shares during the quarter. Cidel Asset Management Inc.’s holdings in Colliers International Group were worth $16,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CIGI. Royal Bank of Canada grew its holdings in Colliers International Group by 1.4% during the first quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider’s stock valued at $462,816,000 after purchasing an additional 52,414 shares during the period. Durable Capital Partners LP raised its position in Colliers International Group by 12.4% during the first quarter. Durable Capital Partners LP now owns 2,972,757 shares of the financial services provider’s stock valued at $360,595,000 after purchasing an additional 328,430 shares during the period. Vanguard Group Inc. raised its holdings in shares of Colliers International Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider’s stock worth $230,558,000 after buying an additional 38,379 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Colliers International Group by 56.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider’s stock worth $117,140,000 after purchasing an additional 349,046 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Colliers International Group by 6.2% in the first quarter. The Manufacturers Life Insurance Company now owns 744,832 shares of the financial services provider’s stock worth $90,630,000 after purchasing an additional 43,550 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Up 2.0%

CIGI opened at $157.62 on Friday. The stock has a market capitalization of $7.81 billion, a P/E ratio of 71.65 and a beta of 1.44. Colliers International Group Inc. has a one year low of $100.86 and a one year high of $170.65. The business’s 50-day simple moving average is $160.80 and its 200-day simple moving average is $139.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.52 by $0.20. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. Analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada increased their target price on Colliers International Group from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. National Bankshares raised their price objective on Colliers International Group from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Stifel Nicolaus lifted their price objective on Colliers International Group from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 1st. JMP Securities began coverage on Colliers International Group in a report on Monday, July 21st. They set a “market perform” rating on the stock. Finally, Citizens Jmp assumed coverage on Colliers International Group in a research report on Monday, July 21st. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.80.

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.