Colliers International Group Inc. $CIGI Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. increased its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 189.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 127,860 shares of the financial services provider’s stock after acquiring an additional 83,684 shares during the quarter. Cidel Asset Management Inc.’s holdings in Colliers International Group were worth $13,627,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Colliers International Group during the third quarter valued at $26,000. Arax Advisory Partners raised its position in shares of Colliers International Group by 137.0% during the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 126 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Colliers International Group during the 4th quarter worth about $32,000. JPMorgan Chase & Co. purchased a new position in Colliers International Group in the 2nd quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after buying an additional 63 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Stock Down 0.1%

CIGI stock opened at $89.53 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average of $100.31 and a two-hundred day moving average of $118.53. Colliers International Group Inc. has a 12 month low of $89.05 and a 12 month high of $171.51. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 55.27 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, analysts forecast that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. Colliers International Group’s payout ratio is 18.52%.

Analysts Set New Price Targets

CIGI has been the subject of a number of research analyst reports. National Bank Financial reduced their target price on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Raymond James Financial lowered their price target on Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. BMO Capital Markets dropped their price target on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Stifel Nicolaus set a $175.00 price objective on Colliers International Group in a report on Friday, March 13th. Finally, Scotia lowered their target price on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $162.89.

About Colliers International Group

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.