Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Colliers International Group Inc. (NASDAQ:CIGI)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,346 shares of the financial services provider’s stock after buying an additional 291 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Colliers International Group were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CIGI. Empowered Funds LLC lifted its stake in shares of Colliers International Group by 60.5% in the 3rd quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 4,678 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in Colliers International Group during the third quarter worth approximately $2,581,000. Addenda Capital Inc. increased its position in shares of Colliers International Group by 20.6% in the second quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider’s stock worth $17,152,000 after acquiring an additional 26,263 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Colliers International Group in the 2nd quarter valued at $567,000. Finally, Bank of Montreal Can lifted its holdings in shares of Colliers International Group by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock valued at $76,703,000 after acquiring an additional 6,178 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CIGI has been the topic of several research reports. Royal Bank of Canada raised their price objective on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Scotiabank raised their target price on Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets upped their price target on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.42.

Colliers International Group Stock Performance

Colliers International Group stock opened at $152.03 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average of $150.08 and a 200-day moving average of $135.40. The stock has a market cap of $7.47 billion, a P/E ratio of 48.42 and a beta of 1.47. Colliers International Group Inc. has a 52 week low of $101.01 and a 52 week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.17). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. Colliers International Group’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. On average, analysts expect that Colliers International Group Inc. will post 5.44 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a dividend yield of 0.2%. Colliers International Group’s payout ratio is 9.55%.

About Colliers International Group

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.