Invesco Ltd. Trims Stake in Colliers International Group Inc. $CIGI

Key Points

• Invesco Ltd. has reduced its stake in Colliers International Group Inc. by 0.6%, now owning 283,744 shares worth approximately $34.4 million.
• Colliers experienced a significant increase in quarterly earnings, reporting $1.72 earnings per share which surpassed analysts' expectations of $1.52.
• Analysts have raised their price targets for Colliers, with new targets ranging from $170.00 to $180.00, reflecting positive sentiment and ratings for the stock.

Invesco Ltd. trimmed its stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,744 shares of the financial services provider's stock after selling 1,684 shares during the period. Invesco Ltd. owned 0.58% of Colliers International Group worth $34,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MQS Management LLC purchased a new stake in shares of Colliers International Group in the 1st quarter worth $527,000. Millennium Management LLC purchased a new stake in shares of Colliers International Group in the 4th quarter worth $3,587,000. Massachusetts Financial Services Co. MA increased its stake in Colliers International Group by 4.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock worth $12,869,000 after buying an additional 4,153 shares in the last quarter. Victory Capital Management Inc. increased its stake in Colliers International Group by 1.1% in the 1st quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock worth $84,548,000 after buying an additional 7,815 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Colliers International Group by 102.5% in the 4th quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock worth $12,678,000 after buying an additional 47,195 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Trading Up 0.3%

Shares of Colliers International Group stock opened at $163.34 on Tuesday. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 74.25 and a beta of 1.44. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $164.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $139.98 and a 200-day moving average price of $128.89.

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 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 analysts' expectations of $1.29 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Analysts Set New Price Targets

CIGI has been the subject of a number of analyst reports. Raymond James Financial increased their price target on Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Stifel Nicolaus increased their price target 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. Scotiabank increased their price target on Colliers International Group from $155.00 to $170.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. JMP Securities initiated coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Finally, National Bankshares increased their price target 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. Six analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $168.40.

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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