T. Rowe Price Investment Management Inc. Raises Position in Colliers International Group Inc. $CIGI

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Colliers International Group Inc. by 56.6%, acquiring an additional 349,046 shares, bringing their total ownership to approximately 1.96% of the company.
• Colliers International Group reported earnings of $1.72 per share for the most recent quarter, surpassing analysts' expectations of $1.52, with revenues increasing by 18.3% year-over-year to $1.37 billion.
• Analysts have revised price targets for Colliers International Group, with Royal Bank Of Canada raising its target from $175 to $185, reflecting a positive outlook for the company's stock performance.

T. Rowe Price Investment Management Inc. lifted its stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 56.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 965,700 shares of the financial services provider's stock after purchasing an additional 349,046 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.96% of Colliers International Group worth $117,140,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CIGI. Durable Capital Partners LP grew its stake in Colliers International Group by 4.0% in the 4th quarter. Durable Capital Partners LP now owns 2,644,327 shares of the financial services provider's stock worth $359,549,000 after acquiring an additional 102,586 shares during the period. Nuveen Asset Management LLC grew its stake in Colliers International Group by 288.0% in the 4th quarter. Nuveen Asset Management LLC now owns 126,451 shares of the financial services provider's stock valued at $17,187,000 after buying an additional 93,864 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Colliers International Group by 89.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 139,930 shares of the financial services provider's stock valued at $19,026,000 after acquiring an additional 65,958 shares during the period. Bank of America Corp DE boosted its stake in Colliers International Group by 102.5% in the 4th quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock valued at $12,678,000 after buying an additional 47,195 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Colliers International Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock worth $230,558,000 after purchasing an additional 38,379 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Price Performance

Shares of Colliers International Group stock traded down $0.82 during trading on Wednesday, hitting $166.16. 30,917 shares of the company's stock traded hands, compared to its average volume of 134,362. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $170.65. The company has a market cap of $8.22 billion, a PE ratio of 75.71 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 firm's fifty day moving average price is $144.43 and its 200 day moving average price is $130.04.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company posted $1.36 earnings per share. Colliers International Group's revenue was up 18.3% compared to the same quarter last year. Analysts forecast that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CIGI shares. JMP Securities began coverage on shares of Colliers International Group in a report on Monday, July 21st. They set a "market perform" rating on the stock. Citizens Jmp began coverage on Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Royal Bank Of Canada boosted their price target on Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. CIBC raised their price objective on shares of Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Finally, National Bankshares boosted their price target on shares of Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $172.30.

Colliers International Group Company 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.