Cidel Asset Management Inc. Purchases 1,756 Shares of Colliers International Group Inc. $CIGI

Key Points

• Cidel Asset Management Inc. increased its holdings in Colliers International Group Inc. by 1.4%, acquiring an additional 1,756 shares, bringing its total ownership to 129,280 shares valued at approximately $16.88 million.
• Colliers International posted quarterly earnings of $1.72 EPS, exceeding analyst expectations of $1.52 EPS, with revenue of $1.37 billion, marking an 18.3% increase year-over-year.
• Analysts have raised price targets for Colliers International Group, with estimates ranging from $181.00 to $185.00, indicating a positive outlook with a consensus rating of "Moderate Buy."

Cidel Asset Management Inc. boosted its position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,280 shares of the financial services provider's stock after purchasing an additional 1,756 shares during the quarter. Cidel Asset Management Inc. owned about 0.26% of Colliers International Group worth $16,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. TCTC Holdings LLC boosted its position 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 worth $26,000 after acquiring an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Colliers International Group during the 1st quarter worth $33,000. State of Wyoming bought a new position in shares of Colliers International Group in the first quarter worth $52,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Colliers International Group by 13.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider's stock valued at $174,000 after buying an additional 175 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Colliers International Group by 23.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,090 shares of the financial services provider's stock valued at $273,000 after buying an additional 397 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Price Performance

CIGI opened at $157.62 on Friday. The stock's 50 day simple moving average is $160.80 and its 200 day simple moving average is $139.04. 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 firm has a market cap of $7.81 billion, a price-to-earnings ratio of 71.65 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly 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. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.Colliers International Group's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $1.36 EPS. As a group, analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Colliers International Group from $137.00 to $181.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada raised their price objective on Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. National Bankshares upped their price objective on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Stifel Nicolaus increased their price target on Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Citizens Jmp initiated coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Colliers International Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.80.

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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