Price T Rowe Associates Inc. MD Raises Position in Colliers International Group Inc. $CIGI

Key Points

• Price T Rowe Associates Inc. increased its stake in Colliers International Group Inc. by 6.6%, owning approximately 0.99% of the company valued at $59.3 million as of the latest filing.
• Several institutional investors, including Central Pacific Bank Trust Division and TCTC Holdings LLC, also raised their stakes, with institutional ownership now at 80.09%.
• Colliers reported earnings of $1.72 per share for the last quarter, surpassing estimates, alongside a revenue growth of 18.3% year-over-year, totaling $1.37 billion.

Price T Rowe Associates Inc. MD lifted its position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 6.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 488,731 shares of the financial services provider's stock after acquiring an additional 30,162 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.99% of Colliers International Group worth $59,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Durable Capital Partners LP grew its position in shares of Colliers International Group by 4.0% in the fourth quarter. Durable Capital Partners LP now owns 2,644,327 shares of the financial services provider's stock valued at $359,549,000 after purchasing an additional 102,586 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Colliers International Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock valued at $230,558,000 after purchasing an additional 38,379 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Colliers International Group by 56.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider's stock valued at $117,140,000 after purchasing an additional 349,046 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Colliers International Group by 1.1% in the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock valued at $84,548,000 after purchasing an additional 7,815 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Colliers International Group by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 466,425 shares of the financial services provider's stock valued at $63,420,000 after purchasing an additional 5,850 shares in the last quarter. Institutional investors own 80.09% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CIGI shares. National Bankshares lifted their price target on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. JMP Securities began coverage on Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. 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 report on Friday, August 1st. Citizens Jmp began coverage on Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. 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 report 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 company's stock. According to MarketBeat, Colliers International Group has a consensus rating of "Moderate Buy" and a consensus target price of $172.30.

Colliers International Group Price Performance

NASDAQ:CIGI traded down $0.22 during midday trading on Monday, hitting $165.35. The company had a trading volume of 128,170 shares, compared to its average volume of 149,306. Colliers International Group Inc. has a 52-week low of $100.86 and a 52-week high of $170.65. The stock's fifty day moving average price is $147.31 and its 200-day moving average price is $130.95. The company has a market capitalization of $8.18 billion, a PE ratio of 75.16 and a beta of 1.41. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24.

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 expect that Colliers International Group Inc. will post 6.2 earnings per share for the current 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.