Colliers International Group Inc. $CIGI Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Colliers International Group Inc. by 23.3%, acquiring an additional 23,940 shares to reach a total of 126,503 shares valued at approximately $15.3 million.
• Colliers reported earnings of $1.72 per share for the last quarter, exceeding analyst forecasts by $0.20, with revenues up 18.3% year-over-year to $1.37 billion.
• A number of analysts have raised their price targets for Colliers International Group, with the average target now at $172.30, reflecting a consensus rating of "Moderate Buy."

Acadian Asset Management LLC lifted its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 23.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,503 shares of the financial services provider's stock after buying an additional 23,940 shares during the quarter. Acadian Asset Management LLC owned approximately 0.26% of Colliers International Group worth $15,337,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Royal Bank of Canada raised its stake in shares of Colliers International Group by 1.4% during the 1st quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider's stock worth $462,816,000 after buying an additional 52,414 shares during the period. Durable Capital Partners LP raised its stake in shares of Colliers International Group by 12.4% during the 1st quarter. Durable Capital Partners LP now owns 2,972,757 shares of the financial services provider's stock worth $360,595,000 after buying an additional 328,430 shares during the period. Vanguard Group Inc. raised its stake in shares of Colliers International Group by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock worth $230,558,000 after buying an additional 38,379 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Colliers International Group by 56.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider's stock worth $117,140,000 after buying an additional 349,046 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Colliers International Group by 6.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 744,832 shares of the financial services provider's stock worth $90,630,000 after buying an additional 43,550 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on CIGI shares. CIBC boosted their price target on Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. JMP Securities initiated coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. Citizens Jmp initiated coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. Raymond James Financial upped their target price on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Stifel Nicolaus upped their target price on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Colliers International Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.80.

Colliers International Group Trading Up 0.4%

NASDAQ:CIGI traded up $0.61 during trading hours on Wednesday, reaching $166.26. 81,312 shares of the stock were exchanged, compared to its average volume of 132,548. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average of $154.86 and a two-hundred day moving average of $133.76. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $170.65. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 75.83 and a beta of 1.41.

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

About Colliers International Group

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.