Northwest & Ethical Investments L.P. Purchases 7,656 Shares of Colliers International Group Inc. $CIGI

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Colliers International Group Inc. by 51.9%, acquiring an additional 7,656 shares and owning a total of 22,419 shares valued at approximately $2.72 million.
• Multiple analysts have upgraded their price targets for Colliers International Group, with estimates ranging from $168.40 to $185.00, indicating a positive outlook for the stock.
• The company reported a quarterly earnings per share of $1.72, exceeding expectations and reflecting an 18.3% year-over-year revenue increase to $1.37 billion.

Northwest & Ethical Investments L.P. boosted its position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 51.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,419 shares of the financial services provider's stock after acquiring an additional 7,656 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Colliers International Group were worth $2,715,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MQS Management LLC purchased a new stake in Colliers International Group during the first quarter valued at $527,000. Millennium Management LLC purchased a new stake in Colliers International Group during the fourth quarter valued at $3,587,000. Massachusetts Financial Services Co. MA increased its position in Colliers International Group by 4.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock valued at $12,869,000 after acquiring an additional 4,153 shares during the last quarter. Victory Capital Management Inc. increased its position in Colliers International Group by 1.1% during the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock valued at $84,548,000 after acquiring an additional 7,815 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Colliers International Group by 102.5% during the fourth quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock valued at $12,678,000 after acquiring an additional 47,195 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Analyst Ratings Changes

CIGI has been the subject of a number of research reports. Raymond James Financial upped their price objective 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. National Bankshares upped their price target on Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Stifel Nicolaus upped their price target on Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Citizens Jmp assumed coverage on Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Finally, CIBC upped their price target on Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $168.40.

Colliers International Group Price Performance

Shares of NASDAQ CIGI traded up $4.77 during mid-day trading on Friday, reaching $167.53. The company's stock had a trading volume of 152,597 shares, compared to its average volume of 172,697. The firm has a market capitalization of $8.29 billion, a PE ratio of 76.15 and a beta of 1.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a fifty day moving average of $142.82 and a two-hundred day moving average of $129.59. Colliers International Group Inc. has a 52 week low of $100.86 and a 52 week high of $169.27.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 earnings per share 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 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 in the prior year, the company posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current fiscal 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.