Spruce House Investment Management LLC lifted its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI – Free Report) (TSE:CIGI) by 93.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,511,000 shares of the financial services provider’s stock after buying an additional 1,209,867 shares during the quarter. Colliers International Group comprises about 9.6% of Spruce House Investment Management LLC’s holdings, making the stock its 3rd biggest holding. Spruce House Investment Management LLC owned 4.91% of Colliers International Group worth $268,387,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Colliers International Group by 28.8% in the first quarter. Renaissance Technologies LLC now owns 485,061 shares of the financial services provider’s stock valued at $51,848,000 after acquiring an additional 108,361 shares in the last quarter. Sei Investments Co. boosted its position in Colliers International Group by 31.0% during the first quarter. Sei Investments Co. now owns 27,680 shares of the financial services provider’s stock worth $2,959,000 after acquiring an additional 6,545 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Colliers International Group during the 1st quarter worth about $951,000. Van Berkom & Associates Inc. purchased a new position in Colliers International Group in the first quarter valued at approximately $4,412,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Colliers International Group by 15.1% in the first quarter. Dimensional Fund Advisors LP now owns 416,549 shares of the financial services provider’s stock worth $44,516,000 after buying an additional 54,695 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.
Colliers International Group Price Performance
Shares of Colliers International Group stock opened at $97.49 on Monday. The company’s fifty day simple moving average is $96.00 and its two-hundred day simple moving average is $110.49. Colliers International Group Inc. has a 12-month low of $88.38 and a 12-month high of $171.51. The firm has a market cap of $4.98 billion, a PE ratio of 60.18 and a beta of 1.26. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23.
Colliers International Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Colliers International Group’s dividend payout ratio (DPR) is 18.52%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CIGI. Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Weiss Ratings cut Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Scotia cut their price objective on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a report on Wednesday, April 15th. Raymond James Financial cut their price objective on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada dropped their price objective on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.11.
View Our Latest Analysis on Colliers International Group
About Colliers International Group
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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