Colliers International Group Inc. $CIGI Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its stake in Colliers International Group by 20.2%, selling 3,030 shares during the first quarter, which left them with a total of 11,963 shares valued at approximately $1.45 million.
• Multiple hedge funds have increased their holdings in Colliers International Group, with AGF Management raising its stake by 34.2% to 76,502 shares, valued at $9.26 million.
• Wall Street analysts have a positive outlook, with several increasing their price targets, leading to a consensus rating of "Moderate Buy" and an average price target of $172.30 for the stock.

Russell Investments Group Ltd. reduced its stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 20.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,963 shares of the financial services provider's stock after selling 3,030 shares during the period. Russell Investments Group Ltd.'s holdings in Colliers International Group were worth $1,448,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. AGF Management Ltd. raised its stake in shares of Colliers International Group by 34.2% in the first quarter. AGF Management Ltd. now owns 76,502 shares of the financial services provider's stock valued at $9,258,000 after acquiring an additional 19,478 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Colliers International Group in the first quarter valued at $4,398,000. King Luther Capital Management Corp raised its stake in shares of Colliers International Group by 154.1% in the first quarter. King Luther Capital Management Corp now owns 38,003 shares of the financial services provider's stock valued at $4,610,000 after acquiring an additional 23,046 shares in the last quarter. Entropy Technologies LP raised its stake in shares of Colliers International Group by 80.8% in the first quarter. Entropy Technologies LP now owns 4,700 shares of the financial services provider's stock valued at $570,000 after acquiring an additional 2,100 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Colliers International Group by 4.5% in the first quarter. National Bank of Canada FI now owns 96,676 shares of the financial services provider's stock valued at $11,414,000 after acquiring an additional 4,195 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CIGI. Citizens Jmp began coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. National Bankshares increased their price objective on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial increased their target price on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus increased their target price 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, JPMorgan Chase & Co. increased their target price on Colliers International Group from $137.00 to $181.00 and gave the company a "neutral" rating in a report on Tuesday. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $172.30.

Colliers International Group Stock Performance

NASDAQ:CIGI opened at $166.36 on Thursday. The firm has a market capitalization of $8.23 billion, a PE ratio of 75.62 and a beta of 1.44. The business's fifty day moving average price is $145.18 and its 200 day moving average price is $130.29. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.20. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The business's quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. On average, sell-side analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share 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.

Want to see what other hedge funds are holding CIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.