61,167 Shares in Colliers International Group Inc. $CIGI Bought by BlackRock Inc.

BlackRock Inc. purchased a new stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,167 shares of the financial services provider's stock, valued at approximately $8,692,000. BlackRock Inc. owned 0.12% of Colliers International Group as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Colliers International Group by 3.4% during the first quarter. Royal Bank of Canada now owns 3,970,524 shares of the financial services provider's stock valued at $424,409,000 after purchasing an additional 129,144 shares during the period. Durable Capital Partners LP grew its holdings in Colliers International Group by 2.0% in the 3rd quarter. Durable Capital Partners LP now owns 3,699,124 shares of the financial services provider's stock worth $577,840,000 after acquiring an additional 73,623 shares during the last quarter. Spruce House Investment Management LLC increased its position in shares of Colliers International Group by 93.0% in 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 acquiring an additional 1,209,867 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Colliers International Group by 1.2% during 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 period. Finally, FIL Ltd grew its stake in shares of Colliers International Group by 5.0% in the fourth quarter. FIL Ltd now owns 1,780,980 shares of the financial services provider's stock worth $261,772,000 after purchasing an additional 85,078 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Analyst Upgrades and Downgrades

CIGI has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. National Bank Financial upped 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. Scotia cut their target price on shares of 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. Finally, Scotiabank lowered their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, July 31st. One investment 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 an average rating of "Moderate Buy" and an average price target of $154.62.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $99.02 on Friday. The business has a 50-day simple moving average of $100.62 and a two-hundred day simple moving average of $102.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 47.15 and a beta of 1.23. Colliers International Group Inc. has a fifty-two week low of $88.38 and a fifty-two week high of $171.51.

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 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.04. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The firm's quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts expect that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

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.

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