Colliers International Group (NASDAQ:CIGI) Sees Large Volume Increase Following Analyst Upgrade

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) shares saw unusually-strong trading volume on Wednesday after Raymond James Financial upgraded the stock from an outperform rating to a strong-buy rating. Raymond James Financial now has a $200.00 price target on the stock. Approximately 280,647 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 172,732 shares.The stock last traded at $131.7370 and had previously closed at $128.34.

A number of other equities research analysts also recently commented on the stock. CIBC lifted their price target on shares of Colliers International Group from $175.00 to $179.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colliers International Group in a research note on Wednesday, January 21st. National Bankshares boosted their price target on Colliers International Group from $181.00 to $185.00 in a report on Monday, December 15th. Wall Street Zen upgraded Colliers International Group from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Finally, Stifel Nicolaus upped their target price on Colliers International Group from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $178.70.

Hedge Funds Weigh In On Colliers International Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Colliers International Group in the third quarter valued at approximately $26,000. JPMorgan Chase & Co. purchased a new position in shares of Colliers International Group in the 2nd quarter valued at $39,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 63 shares in the last quarter. Blue Trust Inc. boosted its position in Colliers International Group by 17.1% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 74 shares during the period. Finally, Sagard Holdings Management Inc. acquired a new stake in Colliers International Group in the 2nd quarter valued at $73,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $6.61 billion, a PE ratio of 57.96 and a beta of 1.40. The company has a 50-day moving average price of $144.28 and a two-hundred day moving average price of $152.10.

Colliers International Group Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a $0.15 dividend. The ex-dividend date was Wednesday, December 31st. This represents a yield of 20.0%. Colliers International Group’s payout ratio is currently 13.10%.

Colliers International Group Company 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.