Alberta Investment Management Corp Takes Position in Colliers International Group Inc. $CIGI

Key Points

• Alberta Investment Management Corp bought a new stake in Colliers International Group, acquiring 325,200 shares valued at about $47.8 million in the fourth quarter.
• Colliers reported quarterly EPS of $0.91, missing estimates by a penny, while revenue of $1.13 billion also came in below expectations; revenue still rose 15.1% year over year.
• The company declared a quarterly dividend of $0.15 per share to be paid on July 14, and analysts currently have a Moderate Buy consensus with an average price target of $162.89.

Alberta Investment Management Corp acquired a new stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 325,200 shares of the financial services provider's stock, valued at approximately $47,799,000. Alberta Investment Management Corp owned about 0.65% of Colliers International Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CIGI. Durable Capital Partners LP raised its holdings in shares of Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider's stock valued at $473,273,000 after purchasing an additional 652,744 shares during the last quarter. Norges Bank acquired a new position in Colliers International Group during the fourth quarter worth $84,906,000. Bank of Montreal Can increased its holdings in Colliers International Group by 69.0% during the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider's stock worth $158,274,000 after buying an additional 439,607 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Colliers International Group by 114,621.7% during the third quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider's stock worth $53,762,000 after buying an additional 343,865 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Colliers International Group by 732.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 214,234 shares of the financial services provider's stock worth $33,498,000 after buying an additional 188,508 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $95.09 on Tuesday. The stock has a market capitalization of $4.86 billion, a PE ratio of 58.70 and a beta of 1.26. Colliers International Group Inc. has a one year low of $90.93 and a one year high of $171.51. The business's 50 day simple moving average is $102.46 and its 200 day simple moving average is $120.72. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.01). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.26 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.Colliers International Group's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. As a group, research analysts forecast that Colliers International Group Inc. will post 6.84 earnings per share for the current year.

Colliers International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Colliers International Group's dividend payout ratio is presently 18.52%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CIGI shares. Scotiabank lowered their target price on shares of Colliers International Group from $185.00 to $155.00 and set an "outperform" rating on the stock in a report on Tuesday, February 17th. Raymond James Financial lowered their target price on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Stifel Nicolaus set a $175.00 target price on shares of Colliers International Group in a report on Friday, March 13th. Scotia reduced their price objective on shares of Colliers International Group from $155.00 to $150.00 and set a "sector outperform" rating for the company in a research report on Wednesday, April 15th. Finally, Royal Bank Of Canada reduced their price objective on shares of Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.89.

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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