The Manufacturers Life Insurance Company Purchases New Position in Colliers International Group Inc. $CIGI

The Manufacturers Life Insurance Company acquired a new position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,062,192 shares of the financial services provider’s stock, valued at approximately $292,656,000.

Other institutional investors also recently bought and sold shares of the company. Alberta Investment Management Corp purchased a new position in shares of Colliers International Group during the fourth quarter valued at $47,799,000. Vestcor Inc purchased a new stake in Colliers International Group in the fourth quarter worth about $2,205,000. UBS Group AG grew its holdings in Colliers International Group by 48.3% during the 4th quarter. UBS Group AG now owns 38,202 shares of the financial services provider’s stock worth $5,616,000 after acquiring an additional 12,439 shares in the last quarter. Montrusco Bolton Investments Inc. grew its holdings in Colliers International Group by 12.5% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider’s stock worth $15,484,000 after acquiring an additional 16,108 shares in the last quarter. Finally, Norges Bank purchased a new position in Colliers International Group during the 4th quarter valued at about $84,906,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CIGI shares. Weiss Ratings upgraded shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. National Bank Financial boosted their target price on shares of Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Raymond James Financial decreased their price target on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Scotiabank lowered their price target on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Finally, Royal Bank Of Canada cut their price objective 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.56.

Colliers International Group Stock Performance

Shares of CIGI opened at $107.86 on Tuesday. Colliers International Group Inc. has a 12 month low of $88.38 and a 12 month high of $171.51. The stock has a fifty day moving average price of $98.79 and a 200-day moving average price of $104.71. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. The firm has a market cap of $5.51 billion, a PE ratio of 51.36 and a beta of 1.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $1.72 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Equities research analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Colliers International Group Profile

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.