TD Asset Management Inc Increases Stake in Colliers International Group Inc. $CIGI

Key Points

• TD Asset Management Inc increased its stake in Colliers International Group Inc. by 6.2%, now holding approximately 0.48% of the company worth $31 million.
• Several institutional investors, including T. Rowe Price and Goldman Sachs, have significantly boosted their holdings, with Goldman Sachs increasing its stake by 78.1%.
• Analysts have set new target prices for Colliers International Group, with CIBC raising it from $149 to $175, while the average consensus target price now stands at $173.80.

TD Asset Management Inc increased its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 6.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 237,783 shares of the financial services provider's stock after purchasing an additional 13,919 shares during the period. TD Asset Management Inc owned approximately 0.48% of Colliers International Group worth $31,048,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in Colliers International Group by 56.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider's stock valued at $117,140,000 after acquiring an additional 349,046 shares during the period. Durable Capital Partners LP boosted its stake in shares of Colliers International Group by 12.4% during the first quarter. Durable Capital Partners LP now owns 2,972,757 shares of the financial services provider's stock valued at $360,595,000 after purchasing an additional 328,430 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Colliers International Group by 39.9% during the first quarter. Ameriprise Financial Inc. now owns 480,040 shares of the financial services provider's stock valued at $58,229,000 after purchasing an additional 136,871 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Colliers International Group by 17.5% during the first quarter. 1832 Asset Management L.P. now owns 404,706 shares of the financial services provider's stock valued at $49,091,000 after purchasing an additional 60,334 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Colliers International Group by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider's stock valued at $15,698,000 after purchasing an additional 56,755 shares during the period. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JMP Securities assumed coverage on shares of Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating for the company. CIBC increased their target price on shares of Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Scotiabank increased their target price on shares of Colliers International Group from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Tuesday, September 16th. Raymond James Financial increased their price objective on Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Citizens Jmp began coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $173.80.

Colliers International Group Stock Performance

Shares of CIGI opened at $154.59 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. Colliers International Group Inc. has a one year low of $100.86 and a one year high of $170.65. The company has a 50-day simple moving average of $160.80 and a two-hundred day simple moving average of $138.69. The firm has a market capitalization of $7.66 billion, a PE ratio of 70.27 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.20. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The firm's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. On average, analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current fiscal 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.

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