Colliers International Group Inc. (NASDAQ:CIGI) Stock Position Decreased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,853 shares of the financial services provider’s stock after selling 3,625 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.32% of Colliers International Group worth $17,406,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Colliers International Group during the 4th quarter valued at about $47,753,000. The Manufacturers Life Insurance Company boosted its stake in Colliers International Group by 48.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock valued at $88,405,000 after purchasing an additional 228,824 shares during the period. Wellington Management Group LLP boosted its stake in Colliers International Group by 13.7% during the 4th quarter. Wellington Management Group LLP now owns 561,869 shares of the financial services provider’s stock valued at $71,212,000 after purchasing an additional 67,857 shares during the period. Intact Investment Management Inc. acquired a new position in Colliers International Group during the 2nd quarter valued at about $6,970,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Colliers International Group during the 1st quarter valued at about $7,092,000. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Up 1.4 %

NASDAQ CIGI opened at $150.98 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50 day simple moving average is $139.51 and its 200 day simple moving average is $122.71. Colliers International Group Inc. has a 12 month low of $83.38 and a 12 month high of $151.39. The company has a market capitalization of $7.38 billion, a P/E ratio of 73.65 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that Colliers International Group Inc. will post 5.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CIGI has been the subject of a number of analyst reports. Stifel Nicolaus boosted their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Colliers International Group in a research note on Monday, September 9th. BMO Capital Markets upped their price target on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. National Bankshares upped their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Finally, Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $150.00 to $160.00 in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.