291,944 Shares in Colliers International Group Inc. $CIGI Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group purchased 291,944 Colliers International Group shares worth approximately $41.5 million, giving it a 0.57% stake. Institutional investors and hedge funds collectively own 80.09% of CIGI.
• Colliers reported quarterly EPS of $1.83, beating estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of the $1.48 billion consensus.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $154.62, versus a recent share price of $100.79.

Wellington Management Group LLP purchased a new stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 291,944 shares of the financial services provider's stock, valued at approximately $41,488,000. Wellington Management Group LLP owned 0.57% of Colliers International Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Colliers International Group by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider's stock valued at $15,698,000 after purchasing an additional 56,755 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Colliers International Group by 1.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider's stock worth $5,508,000 after buying an additional 505 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Colliers International Group during the second quarter worth approximately $39,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Colliers International Group by 190.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider's stock valued at $1,055,000 after acquiring an additional 5,286 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Colliers International Group by 0.5% in the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider's stock worth $37,232,000 after acquiring an additional 1,470 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Price Performance

Shares of Colliers International Group stock opened at $100.79 on Friday. The firm has a market cap of $5.15 billion, a P/E ratio of 48.00 and a beta of 1.23. The firm's 50-day simple moving average is $100.50 and its 200-day simple moving average is $102.98. Colliers International Group Inc. has a twelve month low of $88.38 and a twelve month high of $171.51. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.04. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. As a group, research analysts expect that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on CIGI. Scotia reduced their price target on shares of Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating for the company in a report on Friday, July 31st. National Bank Financial boosted their price objective on shares of Colliers International Group from $109.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Weiss Ratings raised shares of Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Finally, Scotiabank decreased their target price on Colliers International Group from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $154.62.

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.

Want to see what other hedge funds are holding CIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source