Colliers International Group Inc. $CIGI Holdings Raised by Ameriprise Financial Inc.

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 stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 39.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 480,040 shares of the financial services provider's stock after purchasing an additional 136,871 shares during the period. Ameriprise Financial Inc. owned about 0.97% of Colliers International Group worth $58,229,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. TCTC Holdings LLC lifted its holdings in shares of Colliers International Group by 114.9% during the first quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Colliers International Group in the 1st quarter worth about $33,000. Tower Research Capital LLC TRC lifted its stake in Colliers International Group by 1,752.9% in 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. Central Pacific Bank Trust Division lifted its stake in Colliers International Group by 10.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock worth $133,000 after acquiring an additional 100 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Colliers International Group by 13.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider's stock worth $174,000 after acquiring an additional 175 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $166.36 on Thursday. 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 fifty-two week low of $100.86 and a fifty-two week high of $170.65. The stock's 50-day moving average is $145.18 and its two-hundred day moving average is $130.29. The firm has a market cap of $8.23 billion, a P/E ratio of 75.62 and a beta of 1.44.

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, topping the consensus estimate of $1.52 by $0.20. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm posted $1.36 EPS. The business's revenue was up 18.3% compared to the same quarter last year. Analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CIGI shares. JMP Securities started coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. CIBC increased their price objective on Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. National Bankshares increased their price objective on Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Stifel Nicolaus increased their price objective 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, Royal Bank Of Canada increased their price objective on Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $172.30.

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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