Legal & General Group Plc bought a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI – Free Report) (TSE:CIGI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 242,821 shares of the financial services provider’s stock, valued at approximately $34,516,000.
Several other hedge funds have also added to or reduced their stakes in the company. Alberta Investment Management Corp purchased a new stake in shares of Colliers International Group during the fourth quarter worth about $47,799,000. Vestcor Inc purchased a new position in shares of Colliers International Group in the 4th quarter valued at approximately $2,205,000. UBS Group AG raised its position in shares of Colliers International Group by 48.3% in the 4th quarter. UBS Group AG now owns 38,202 shares of the financial services provider’s stock valued at $5,616,000 after purchasing an additional 12,439 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its stake in Colliers International Group by 12.5% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider’s stock worth $15,484,000 after purchasing an additional 16,108 shares in the last quarter. Finally, Norges Bank acquired a new stake in Colliers International Group in the 4th quarter worth approximately $84,906,000. 80.09% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of 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. BMO Capital Markets lowered their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Scotiabank cut their target price on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Finally, Scotia reduced their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Colliers International Group presently has a consensus rating of “Moderate Buy” and an average price target of $154.62.
Colliers International Group Stock Down 0.0%
CIGI stock opened at $102.93 on Friday. The firm’s fifty day simple moving average is $99.69 and its 200-day simple moving average is $104.03. The company has a market capitalization of $5.26 billion, a P/E ratio of 49.01 and a beta of 1.24. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. Colliers International Group Inc. has a 12 month low of $88.38 and a 12 month high of $171.51.
Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.04. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 earnings per share. As a group, equities research analysts forecast that Colliers International Group Inc. will post 6.82 earnings per share for the current year.
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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