Addenda Capital Inc. Sells 2,640 Shares of Colliers International Group Inc. $CIGI

Key Points

• Addenda Capital Inc. reduced its stake in Colliers International Group Inc. by 1.6% during Q2, selling 2,640 shares to own a total of 157,780 shares valued at $20.6 million.
• Several institutional investors, including Royal Bank of Canada and T. Rowe Price, have recently increased their holdings in Colliers, reflecting a strong interest in the company.
• Analysts have set new price targets for Colliers International Group, with the consensus rating at "Moderate Buy" and an average price target of $173.80.

Addenda Capital Inc. reduced its position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 157,780 shares of the financial services provider's stock after selling 2,640 shares during the period. Addenda Capital Inc. owned 0.32% of Colliers International Group worth $20,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CIGI. Royal Bank of Canada boosted its stake in Colliers International Group by 1.4% in the first 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 in the last quarter. Durable Capital Partners LP raised its holdings in shares of Colliers International Group by 12.4% during the first quarter. Durable Capital Partners LP now owns 2,972,757 shares of the financial services provider's stock valued at $360,595,000 after acquiring an additional 328,430 shares in the last quarter. Vanguard Group Inc. raised its holdings in Colliers International Group by 2.1% in 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 in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Colliers International Group by 56.6% in 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 acquiring an additional 349,046 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Colliers International Group by 6.2% in the first quarter. The Manufacturers Life Insurance Company now owns 744,832 shares of the financial services provider's stock worth $90,630,000 after acquiring an additional 43,550 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Analysts Set New Price Targets

CIGI has been the topic of a number of analyst reports. Scotiabank lifted their price objective on Colliers International Group from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Tuesday, September 16th. CIBC boosted their price objective on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Stifel Nicolaus upped their target price on Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada upped their target price on Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Raymond James Financial boosted their price target on Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $173.80.

Colliers International Group Stock Up 0.3%

Colliers International Group stock opened at $157.00 on Friday. The stock's fifty day moving average is $159.07 and its two-hundred day moving average is $135.83. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. Colliers International Group Inc. has a 1-year low of $100.86 and a 1-year high of $170.65. The stock has a market cap of $7.78 billion, a PE ratio of 71.36 and a beta of 1.41.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued 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 firm 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 for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. On average, sell-side analysts expect that Colliers International Group Inc. will post 6.2 EPS for the current fiscal 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.

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