Select Equity Group L.P. Acquires New Position in Colliers International Group Inc. $CIGI

Select Equity Group L.P. acquired a new stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,062 shares of the financial services provider's stock, valued at approximately $3,759,000. Select Equity Group L.P. owned about 0.06% of Colliers International Group at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CIGI. TCTC Holdings LLC increased its position in shares of Colliers International Group by 114.9% in the 1st 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 purchased a new stake in shares of Colliers International Group in the 1st quarter valued at approximately $33,000. Tower Research Capital LLC TRC increased its position in shares of Colliers International Group by 1,752.9% in 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 last quarter. State of Wyoming purchased a new stake in shares of Colliers International Group in the 1st quarter valued at approximately $52,000. Finally, Central Pacific Bank Trust Division increased its position in shares of 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 valued at $133,000 after purchasing an additional 100 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CIGI has been the topic of a number of recent analyst reports. National Bankshares increased their price objective on shares of Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Royal Bank Of Canada upped their target price on shares of Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. JMP Securities started coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. JPMorgan Chase & Co. upped their target price on shares of Colliers International Group from $137.00 to $181.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Finally, Scotiabank upped their target price on shares of Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $172.30.

Colliers International Group Stock Performance

NASDAQ:CIGI traded down $1.46 during trading hours on Friday, reaching $166.83. 79,861 shares of the company's stock were exchanged, compared to its average volume of 117,886. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 75.83 and a beta of 1.41. The company has a 50-day moving average of $153.44 and a 200 day moving average of $133.23. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. Colliers International Group Inc. has a 1-year low of $100.86 and a 1-year high of $170.65.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings results 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. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the prior year, the business earned $1.36 EPS. Colliers International Group's quarterly revenue was up 18.3% compared to the same quarter last year. Research analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current 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.