Louisbourg Investments Inc. Boosts Stock Position in Colliers International Group Inc. $CIGI

Key Points

• Louisbourg Investments Inc. increased its stake in Colliers International Group by 46.6% in the first quarter, buying 24,110 additional shares to bring its total to 75,882 shares worth about $8.1 million.
• Institutional ownership of Colliers remains heavy, with 80.09% of the stock held by hedge funds and other institutional investors, and several other firms also recently boosted their positions.
• Analysts currently rate CIGI as a Moderate Buy, though some have trimmed price targets; the consensus target stands at $162.89 versus a recent share price of $92.67.

Louisbourg Investments Inc. grew its position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 46.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,882 shares of the financial services provider's stock after purchasing an additional 24,110 shares during the period. Colliers International Group makes up 1.4% of Louisbourg Investments Inc.'s holdings, making the stock its 19th largest position. Louisbourg Investments Inc. owned approximately 0.15% of Colliers International Group worth $8,097,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CIGI. EverSource Wealth Advisors LLC lifted its holdings in shares of Colliers International Group by 26.3% during the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock worth $40,000 after purchasing an additional 63 shares during the period. Cooper Investors PTY Ltd. raised its position in Colliers International Group by 0.4% during the 4th quarter. Cooper Investors PTY Ltd. now owns 30,217 shares of the financial services provider's stock worth $4,442,000 after buying an additional 114 shares during the last quarter. Arax Advisory Partners raised its position in Colliers International Group by 137.0% during the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock worth $32,000 after buying an additional 126 shares during the last quarter. Versor Investments LP lifted its stake in Colliers International Group by 6.2% during the 4th quarter. Versor Investments LP now owns 2,415 shares of the financial services provider's stock valued at $355,000 after acquiring an additional 142 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its stake in 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 valued at $290,000 after acquiring an additional 151 shares during the period. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada decreased their target price on shares of Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. Stifel Nicolaus set a $175.00 price target on shares of Colliers International Group in a report on Friday, March 13th. Zacks Research raised Colliers International Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings lowered Colliers International Group from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.89.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $92.67 on Friday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 57.20 and a beta of 1.26. Colliers International Group Inc. has a 12 month low of $88.38 and a 12 month high of $171.51. The firm's 50 day simple moving average is $98.92 and its 200-day simple moving average is $117.57. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the firm earned $0.87 earnings per share. Colliers International Group's revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts expect that Colliers International Group Inc. will post 6.82 EPS for the current year.

Colliers International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a $0.15 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Colliers International Group's dividend payout ratio is 18.52%.

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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