Canoe Financial LP Sells 1,674 Shares of Colliers International Group Inc. $CIGI

Key Points

• Canoe Financial LP has reduced its stake in Colliers International Group Inc. by 4.4%, selling 1,674 shares during the second quarter, bringing its total ownership to 36,279 shares valued at approximately $4.75 million.
• Brokerages are optimistic about Colliers International Group, with Royal Bank of Canada and CIBC raising their target prices to $185 and $175 respectively, while maintaining an "outperform" rating.
• Colliers International Group reported a strong quarterly performance with earnings per share of $1.72, exceeding analysts' expectations, alongside a revenue of $1.37 billion, marking an 18.3% increase year-over-year.

Canoe Financial LP decreased its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,279 shares of the financial services provider's stock after selling 1,674 shares during the quarter. Canoe Financial LP owned about 0.07% of Colliers International Group worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC raised its holdings in Colliers International Group by 114.9% during the 1st quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 116 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Colliers International Group during the 1st quarter valued at $33,000. State of Wyoming bought a new stake in Colliers International Group during the 1st quarter valued at $52,000. Central Pacific Bank Trust Division raised its holdings in Colliers International Group by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock valued at $133,000 after acquiring an additional 100 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Colliers International Group by 13.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider's stock valued at $174,000 after acquiring an additional 175 shares during the period. Institutional investors own 80.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CIGI. Royal Bank Of Canada boosted their target price on shares of Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Colliers International Group from $137.00 to $181.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. JMP Securities initiated coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating on the stock. Citizens Jmp initiated coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating on the stock. Finally, CIBC upped their price target on shares of Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Colliers International Group has a consensus rating of "Moderate Buy" and a consensus target price of $173.80.

Colliers International Group Stock Up 0.7%

Shares of NASDAQ:CIGI opened at $166.32 on Friday. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $170.65. The firm has a fifty day moving average of $156.15 and a 200 day moving average of $134.25. The firm has a market capitalization of $8.24 billion, a PE ratio of 75.60 and a beta of 1.41. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17.

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

Colliers International Group Company Profile

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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