Canada Pension Plan Investment Board Takes Position in Colliers International Group Inc. $CIGI

Canada Pension Plan Investment Board bought 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 fund bought 264,329 shares of the financial services provider’s stock, valued at approximately $37,549,000. Canada Pension Plan Investment Board owned approximately 0.52% of Colliers International Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in Colliers International Group by 3.4% in the 1st quarter. Royal Bank of Canada now owns 3,970,524 shares of the financial services provider’s stock worth $424,409,000 after purchasing an additional 129,144 shares in the last quarter. Durable Capital Partners LP grew its position in shares of Colliers International Group by 2.0% during the third quarter. Durable Capital Partners LP now owns 3,699,124 shares of the financial services provider’s stock valued at $577,840,000 after purchasing an additional 73,623 shares in the last quarter. Spruce House Investment Management LLC grew its position in shares of Colliers International Group by 93.0% during the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock valued at $268,387,000 after purchasing an additional 1,209,867 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Colliers International Group in the second quarter worth about $292,656,000. Finally, Vanguard Group Inc. increased its holdings in shares of Colliers International Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,996,018 shares of the financial services provider’s stock worth $293,379,000 after purchasing an additional 23,516 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Scotiabank dropped their price target on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Scotia reduced their price objective on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings raised Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Royal Bank Of Canada decreased their price objective on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, BMO Capital Markets lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.62.

Colliers International Group Stock Down 1.5%

Shares of NASDAQ:CIGI opened at $102.97 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. Colliers International Group Inc. has a 12 month low of $88.38 and a 12 month high of $171.51. The company has a 50-day moving average price of $99.46 and a 200 day moving average price of $104.03. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 49.03 and a beta of 1.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.72 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

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.