Price T Rowe Associates Inc. MD Purchases 30,162 Shares of 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 Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,731 shares of the financial services provider's stock after buying an additional 30,162 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.99% of Colliers International Group worth $59,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its holdings in 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 acquiring an additional 349,046 shares during the period. Hsbc Holdings PLC increased its position in shares of Colliers International Group by 77.3% during the 1st quarter. Hsbc Holdings PLC now owns 5,743 shares of the financial services provider's stock valued at $689,000 after purchasing an additional 2,503 shares during the last quarter. Aviso Financial Inc. lifted its stake in shares of Colliers International Group by 7.8% in the 1st quarter. Aviso Financial Inc. now owns 33,905 shares of the financial services provider's stock worth $4,105,000 after purchasing an additional 2,457 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in shares of Colliers International Group by 51.9% in the first quarter. Northwest & Ethical Investments L.P. now owns 22,419 shares of the financial services provider's stock worth $2,715,000 after buying an additional 7,656 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Colliers International Group in the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.09% of the company's stock.

Colliers International Group Price Performance

Shares of Colliers International Group stock traded down $0.22 on Friday, hitting $165.35. 128,170 shares of the company traded hands, compared to its average volume of 151,570. Colliers International Group Inc. has a 52 week low of $100.86 and a 52 week high of $170.65. The business has a 50-day simple moving average of $146.64 and a 200 day simple moving average of $130.72. 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 stock has a market capitalization of $8.18 billion, a P/E ratio of 75.16 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 analysts' consensus estimates of $1.52 by $0.20. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. Colliers International Group's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. Research analysts expect that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CIGI shares. Raymond James Financial upped their target price on shares of Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 1st. National Bankshares upped 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. Scotiabank raised their target price on Colliers International Group from $155.00 to $170.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Stifel Nicolaus boosted their price target on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, JMP Securities initiated coverage on Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $172.30.

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.