1832 Asset Management L.P. Purchases 60,334 Shares of Colliers International Group Inc. $CIGI

Key Points

• 1832 Asset Management L.P. increased its stake in Colliers International Group by 17.5%, owning about $49 million worth of shares as of the end of the last quarter.
• Multiple institutional investors have significantly boosted their positions in Colliers International Group, with T. Rowe Price increasing its stake by 56.6% and Ameriprise Financial raising its stake by 39.9%.
• Analysts have raised their price targets for Colliers International Group, with ratings ranging from "Strong Buy" to "Outperform," and an average consensus price target of $168.40.

1832 Asset Management L.P. grew its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 17.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,706 shares of the financial services provider's stock after buying an additional 60,334 shares during the quarter. 1832 Asset Management L.P. owned 0.82% of Colliers International Group worth $49,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Durable Capital Partners LP boosted its holdings in Colliers International Group by 4.0% during the fourth quarter. Durable Capital Partners LP now owns 2,644,327 shares of the financial services provider's stock worth $359,549,000 after purchasing an additional 102,586 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Colliers International Group by 2.1% during the first quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock worth $230,558,000 after purchasing an additional 38,379 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Colliers International Group by 56.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider's stock worth $117,140,000 after purchasing an additional 349,046 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Colliers International Group by 1.1% during the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock worth $84,548,000 after purchasing an additional 7,815 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Colliers International Group by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 488,731 shares of the financial services provider's stock worth $59,284,000 after purchasing an additional 30,162 shares during the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

Shares of NASDAQ CIGI traded down $0.69 during midday trading on Thursday, hitting $165.68. The company's stock had a trading volume of 30,850 shares, compared to its average volume of 134,175. The stock has a fifty day moving average price of $145.18 and a 200 day moving average price of $130.29. Colliers International Group Inc. has a one year low of $100.86 and a one year high of $170.65. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 75.31 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.20. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 earnings per share. On average, research analysts forecast that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CIGI shares. JMP Securities started coverage on shares of Colliers International Group in a report on Monday, July 21st. They set a "market perform" rating on the stock. Royal Bank Of Canada boosted their price target on shares of Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Citizens Jmp started coverage on shares of Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. CIBC lifted their price objective on shares of Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $172.30.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.