11,036 Shares in Colliers International Group Inc. $CIGI Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp. purchased 11,036 shares of Colliers International Group, worth approximately $1.57 million. Institutional investors collectively own 80.09% of the company, with several major funds recently increasing their positions.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $157.56, despite several recent target-price reductions.
• Colliers reported quarterly EPS of $1.83, exceeding estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of analyst expectations. Shares opened at $103.43, near the lower end of their 52-week range.

Alberta Investment Management Corp purchased a new stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,036 shares of the financial services provider's stock, valued at approximately $1,568,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spruce House Investment Management LLC raised its stake 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 worth $268,387,000 after purchasing an additional 1,209,867 shares during the last quarter. Turtle Creek Asset Management Inc. increased its stake in Colliers International Group by 100.9% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider's stock valued at $174,611,000 after buying an additional 820,315 shares during the period. Durable Capital Partners LP increased its stake in Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider's stock valued at $473,273,000 after buying an additional 652,744 shares during the period. Norges Bank purchased a new position in Colliers International Group during the 4th quarter worth $84,906,000. Finally, Bank of Montreal Can raised its position in Colliers International Group by 69.0% during the 4th quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider's stock worth $158,274,000 after buying an additional 439,607 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CIGI has been the topic of several analyst reports. Raymond James Financial lowered their target price on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. BMO Capital Markets cut their price target on shares of Colliers International Group from $180.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. Scotia lowered their price objective on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada cut their target price on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Finally, National Bank Financial lifted their price target on Colliers International Group from $109.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $157.56.

Colliers International Group Trading Down 1.9%

Shares of CIGI stock opened at $103.43 on Tuesday. Colliers International Group Inc. has a fifty-two week low of $88.38 and a fifty-two week high of $171.51. The stock has a market cap of $5.29 billion, a P/E ratio of 49.25 and a beta of 1.24. The business has a fifty day simple moving average of $97.83 and a 200-day simple moving average of $105.71. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings data 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. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. On average, analysts forecast 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.

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