Thornburg Investment Management Inc. boosted its position in Colliers International Group Inc. (NASDAQ:CIGI – Free Report) (TSE:CIGI) by 346.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,439 shares of the financial services provider’s stock after acquiring an additional 5,771 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Colliers International Group were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Colliers International Group during the third quarter worth about $26,000. Arax Advisory Partners increased its position in shares of Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 126 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Colliers International Group during the fourth quarter worth about $32,000. JPMorgan Chase & Co. purchased a new stake in shares of Colliers International Group during the second quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Colliers International Group by 26.3% during the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.
Wall Street Analyst Weigh In
CIGI has been the topic of a number of analyst reports. Scotiabank dropped their target price on Colliers International Group from $185.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Royal Bank Of Canada dropped their target price on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Raymond James Financial dropped their target price on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. National Bank Financial dropped their target price on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Finally, Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Colliers International Group presently has an average rating of “Moderate Buy” and an average target price of $162.89.
Colliers International Group Stock Down 2.4%
Shares of Colliers International Group stock opened at $95.09 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23. The firm has a market cap of $4.86 billion, a P/E ratio of 58.70 and a beta of 1.26. Colliers International Group Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $171.51. The business has a 50-day moving average price of $102.46 and a 200 day moving average price of $120.72.
Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.26 billion. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. On average, sell-side analysts forecast that Colliers International Group Inc. will post 6.84 earnings per share for the current fiscal year.
Colliers International Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Colliers International Group’s payout ratio is currently 18.52%.
Colliers International Group Company 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.
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