Burgundy Asset Management Ltd. Lowers Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Burgundy Asset Management Ltd. lowered its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 437,818 shares of the financial services provider’s stock after selling 7,308 shares during the quarter. Burgundy Asset Management Ltd. owned 0.90% of Colliers International Group worth $48,868,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Addenda Capital Inc. raised its holdings in Colliers International Group by 8.8% in the 1st quarter. Addenda Capital Inc. now owns 127,362 shares of the financial services provider’s stock valued at $15,567,000 after buying an additional 10,340 shares during the period. CIBC Asset Management Inc boosted its position in shares of Colliers International Group by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 409,413 shares of the financial services provider’s stock worth $51,950,000 after purchasing an additional 12,820 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Colliers International Group by 33.9% during the 1st quarter. Russell Investments Group Ltd. now owns 16,473 shares of the financial services provider’s stock worth $2,015,000 after purchasing an additional 4,169 shares during the period. Security National Bank acquired a new stake in Colliers International Group in the 4th quarter valued at approximately $70,000. Finally, Blair William & Co. IL raised its position in Colliers International Group by 13.6% in the first quarter. Blair William & Co. IL now owns 34,783 shares of the financial services provider’s stock valued at $4,251,000 after purchasing an additional 4,170 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $145.05 on Thursday. The company has a market cap of $7.09 billion, a P/E ratio of 70.76 and a beta of 1.49. The firm has a fifty day moving average price of $137.56 and a 200 day moving average price of $121.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. Colliers International Group Inc. has a 12 month low of $83.38 and a 12 month high of $148.99.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $1.21 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict that Colliers International Group Inc. will post 5.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CIGI has been the subject of a number of research reports. National Bankshares lifted their price objective on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Scotiabank upped their price objective on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 2nd. Finally, Raymond James lowered Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $150.00 to $160.00 in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Colliers International Group has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Colliers International Group Company Profile

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.