Legal & General Group Plc Invests $34.52 Million in Colliers International Group Inc. $CIGI

Key Points

• Legal & General Group Plc acquired 242,821 shares of Colliers International Group, valued at approximately $34.52 million, giving it a 0.48% stake. Institutional investors and hedge funds collectively own 80.09% of CIGI.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $154.62, well above the stock’s reported price of $102.93.
• Colliers reported quarterly EPS of $1.83, topping estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of the $1.48 billion consensus forecast.

Legal & General Group Plc bought a new stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 242,821 shares of the financial services provider's stock, valued at approximately $34,516,000. Legal & General Group Plc owned approximately 0.48% of Colliers International Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CIGI. EverSource Wealth Advisors LLC grew its holdings in shares of Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 63 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Colliers International Group by 5.9% during the first quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider's stock worth $240,000 after acquiring an additional 126 shares in the last quarter. Arax Advisory Partners boosted its position in Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 126 shares during the last quarter. Versor Investments LP grew its stake in Colliers International Group by 6.2% in the fourth quarter. Versor Investments LP now owns 2,415 shares of the financial services provider's stock valued at $355,000 after purchasing an additional 142 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its position in shares of Colliers International Group by 8.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,975 shares of the financial services provider's stock worth $290,000 after purchasing an additional 151 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CIGI. National Bank Financial increased their price objective on Colliers International Group from $109.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Scotia lowered their target price on shares of Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada dropped their price target on shares of Colliers International Group from $160.00 to $155.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 6th. BMO Capital Markets cut their price target on shares of Colliers International Group from $180.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average target price of $154.62.

Colliers International Group Stock Down 0.0%

CIGI stock opened at $102.93 on Friday. Colliers International Group Inc. has a 1-year low of $88.38 and a 1-year high of $171.51. The business's 50 day simple moving average is $99.69 and its 200 day simple moving average is $104.03. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $5.26 billion, a PE ratio of 49.01 and a beta of 1.24.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.04. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $1.72 EPS. The company's quarterly revenue was up 16.7% on a year-over-year basis. As a group, research analysts anticipate that Colliers International Group Inc. will post 6.82 EPS for the current year.

Colliers International Group Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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