Colliers International Group Inc. $CIGI Shares Bought by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments Inc. increased its holdings in Colliers International Group by 96.6% during Q2, now owning 1.7% of the company with shares valued at approximately $7.9 million.
• Multiple analysts have raised their price targets for Colliers International Group, with recommendations ranging from "Moderate Buy" to "Outperform", resulting in an average target price of $173.80.
• Colliers International Group reported a strong quarterly performance, exceeding EPS estimates at $1.72 and achieving revenue of $1.37 billion, reflecting an 18.3% year-over-year increase.

Louisbourg Investments Inc. raised its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 96.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,543 shares of the financial services provider's stock after purchasing an additional 29,748 shares during the period. Colliers International Group comprises approximately 1.7% of Louisbourg Investments Inc.'s holdings, making the stock its 14th largest holding. Louisbourg Investments Inc. owned about 0.12% of Colliers International Group worth $7,907,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. TCTC Holdings LLC raised its position in shares of Colliers International Group by 114.9% in the 1st 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 in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Colliers International Group by 13.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,435 shares of the financial services provider's stock valued at $174,000 after acquiring an additional 175 shares in the last quarter. Vista Finance LLC raised its position in shares of Colliers International Group by 7.0% during the 1st quarter. Vista Finance LLC now owns 2,953 shares of the financial services provider's stock valued at $358,000 after acquiring an additional 193 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Colliers International Group during the 1st quarter valued at approximately $33,000. Finally, State of Wyoming acquired a new stake in shares of Colliers International Group during the 1st quarter valued at approximately $52,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CIGI shares. Stifel Nicolaus upped their price target on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 1st. National Bankshares upped 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. JPMorgan Chase & Co. upped their price target on Colliers International Group from $137.00 to $181.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Raymond James Financial upped their price target on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Scotiabank upped their price target on Colliers International Group from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average target price of $173.80.

Colliers International Group Price Performance

Shares of CIGI opened at $149.47 on Friday. The company has a market cap of $7.41 billion, a P/E ratio of 67.94 and a beta of 1.44. The stock has a fifty day moving average price of $160.94 and a 200 day moving average price of $137.82. 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 12 month low of $100.86 and a 12 month high of $170.65.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 EPS 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 the consensus estimate of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The firm's revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 EPS. On average, research analysts forecast that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

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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