Bank of New York Mellon Corp Takes $5.32 Million Position in Colliers International Group Inc. $CIGI

Key Points

• Bank of New York Mellon acquired 37,404 shares of Colliers International Group, valued at approximately $5.32 million, giving it a 0.07% stake. Institutional investors collectively own 80.09% of the company.
• Colliers reported quarterly EPS of $1.83, exceeding estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but came in below expectations.
• CIGI shares recently traded down 1.8% to $99.02. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $154.62.

Bank of New York Mellon Corp bought a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 37,404 shares of the financial services provider's stock, valued at approximately $5,316,000. Bank of New York Mellon Corp owned approximately 0.07% of Colliers International Group as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CIGI. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Colliers International Group during the 3rd quarter worth approximately $26,000. Arax Advisory Partners boosted its position in Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock worth $32,000 after purchasing an additional 126 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Colliers International Group in the fourth quarter valued at approximately $32,000. JPMorgan Chase & Co. bought a new position in Colliers International Group in the 2nd quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 63 shares during the period. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Trading Down 1.8%

NASDAQ:CIGI opened at $99.02 on Friday. The company 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 market cap of $5.06 billion, a PE ratio of 47.15 and a beta of 1.23. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. Colliers International Group Inc. has a 12 month low of $88.38 and a 12 month high of $171.51.

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 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 business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the company earned $1.72 EPS. The business's quarterly revenue was up 16.7% compared to the same quarter last year. Research analysts forecast that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CIGI. Scotia dropped their target price 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 raised their price target on Colliers International Group from $109.00 to $110.00 and gave the stock an "outperform" rating in a research note 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 price target on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $154.62.

Colliers International Group Profile

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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