Royal Bank of Canada Has $462.82 Million Position in Colliers International Group Inc. $CIGI

Key Points

• Royal Bank of Canada increased its holdings in Colliers International by 1.4%, owning approximately 7.74% of the company, valued at $462.8 million.
• A number of analysts have raised their target prices for Colliers International Group, with Scotiabank adjusting it to $170, while Royal Bank of Canada set a new target of $185.
• The company reported a quarterly revenue of $1.37 billion, surpassing analysts’ expectations and achieving a year-over-year increase of 18.3%.

Royal Bank of Canada grew its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,815,470 shares of the financial services provider's stock after purchasing an additional 52,414 shares during the quarter. Royal Bank of Canada owned approximately 7.74% of Colliers International Group worth $462,816,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. TCTC Holdings LLC grew its holdings in shares of Colliers International Group by 114.9% during the first quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Colliers International Group in the 1st quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its stake in Colliers International Group by 1,752.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 298 shares during the period. State of Wyoming acquired a new position in Colliers International Group during the 1st quarter valued at about $52,000. Finally, Central Pacific Bank Trust Division grew its position in Colliers International Group by 10.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock worth $133,000 after purchasing an additional 100 shares during the last quarter. 80.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CIGI. Scotiabank lifted their price target on Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. CIBC raised their target price on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their price target on Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research report 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. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $172.30.

Colliers International Group Price Performance

Shares of CIGI traded up $4.58 during trading hours on Thursday, hitting $165.42. 146,659 shares of the company were exchanged, compared to its average volume of 134,638. 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 company has a market capitalization of $8.18 billion, a PE ratio of 75.19 and a beta of 1.41. The firm has a fifty day simple moving average of $148.54 and a 200-day simple moving average of $131.36. Colliers International Group Inc. has a one year low of $100.86 and a one year high of $170.65.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.29 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. Colliers International Group's revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, sell-side analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current 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.