Royal Bank of Canada Has $424.41 Million Stock Position in Colliers International Group Inc. $CIGI

Royal Bank of Canada raised its stake in Colliers International Group Inc. (NASDAQ:CIGIFree Report) (TSE:CIGI) by 3.4% in the 1st quarter, HoldingsChannel reports. The fund owned 3,970,524 shares of the financial services provider’s stock after buying an additional 129,144 shares during the quarter. Royal Bank of Canada owned 0.08% of Colliers International Group worth $424,409,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CIGI. Empowered Funds LLC increased its holdings in shares of Colliers International Group by 2.6% in the first quarter. Empowered Funds LLC now owns 23,042 shares of the financial services provider’s stock valued at $2,463,000 after purchasing an additional 573 shares in the last quarter. Spruce House Investment Management LLC lifted its holdings in Colliers International Group by 93.0% during the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after buying an additional 1,209,867 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Colliers International Group by 28.8% during the 1st quarter. Renaissance Technologies LLC now owns 485,061 shares of the financial services provider’s stock worth $51,848,000 after buying an additional 108,361 shares in the last quarter. Sei Investments Co. boosted its position in Colliers International Group by 31.0% in the 1st quarter. Sei Investments Co. now owns 27,680 shares of the financial services provider’s stock valued at $2,959,000 after buying an additional 6,545 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Colliers International Group in the 1st quarter valued at $951,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CIGI. Zacks Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. BMO Capital Markets lowered their price objective on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Scotia dropped their price objective on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a report on Wednesday, April 15th. National Bank Financial reduced their target price on shares of Colliers International Group from $143.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, Raymond James Financial lowered their price target on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $159.11.

Get Our Latest Analysis on CIGI

Colliers International Group Stock Performance

CIGI stock opened at $103.91 on Wednesday. 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 Inc. has a twelve month low of $88.38 and a twelve month high of $171.51. The business’s fifty day moving average is $96.42 and its 200-day moving average is $109.88. The company has a market cap of $5.31 billion, a P/E ratio of 64.14 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGIGet Free Report) (TSE:CIGI) last released its earnings results 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.26 billion. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. Equities research analysts forecast that Colliers International Group Inc. will post 6.82 EPS for the current year.

Colliers International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. Colliers International Group’s payout ratio is currently 18.52%.

Colliers International Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Colliers International Group (NASDAQ:CIGI)

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