Ameriprise Financial Inc. Raises Position in Colliers International Group Inc. $CIGI

Key Points

• Ameriprise Financial Inc. increased its stake in Colliers International Group Inc. by 39.9%, owning approximately 0.97% of the company's stock valued at $58.2 million.
• Colliers reported a net margin of 2.17% and earnings per share of $1.72 for the latest quarter, exceeding analyst estimates by $0.20.
• Several analysts have upgraded their price targets for Colliers, with CIBC and National Bankshares raising theirs to $175, while Royal Bank of Canada set a target of $185.

Ameriprise Financial Inc. grew its position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 39.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 480,040 shares of the financial services provider's stock after purchasing an additional 136,871 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.97% of Colliers International Group worth $58,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CIGI. Wells Fargo & Company MN raised its holdings in shares of Colliers International Group by 5.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,855 shares of the financial services provider's stock valued at $1,068,000 after purchasing an additional 398 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Colliers International Group during the 4th quarter worth $1,259,000. First Trust Advisors LP acquired a new stake in Colliers International Group during the 4th quarter worth $522,000. Tower Research Capital LLC TRC raised its stake in Colliers International Group by 1,752.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock worth $43,000 after acquiring an additional 298 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in Colliers International Group during the 4th quarter worth $1,918,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Scotiabank lifted their price target on shares of Colliers International Group from $155.00 to $170.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. Raymond James Financial lifted their price target on shares of Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. CIBC lifted their price target on shares of Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. Finally, National Bankshares lifted their price target on shares of Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two 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's stock. Based on data from MarketBeat.com, Colliers International Group presently has an average rating of "Moderate Buy" and an average target price of $172.30.

Colliers International Group Stock Performance

NASDAQ CIGI traded down $4.09 during trading on Tuesday, reaching $161.26. The company's stock had a trading volume of 140,717 shares, compared to its average volume of 143,442. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 73.30 and a beta of 1.41. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $170.65. The business's fifty day moving average price is $147.88 and its 200-day moving average price is $131.16.

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

Colliers International Group 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.