Colliers International Group Inc. $CIGI Shares Bought by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in Colliers International Group Inc. by 6.2% during the first quarter, owning 1.51% of the company worth approximately $90.63 million.
• Several other institutional investors have also significantly raised or initiated stakes in Colliers, leading to a total institutional ownership of 80.09% of the company.
• Analysts have upgraded their price targets for Colliers International Group, with JPMorgan Chase & Co. increasing it from $137 to $181 and multiple brokerages issuing a consensus rating of "Moderate Buy".

The Manufacturers Life Insurance Company grew its position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 744,832 shares of the financial services provider's stock after acquiring an additional 43,550 shares during the period. The Manufacturers Life Insurance Company owned about 1.51% of Colliers International Group worth $90,630,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CIGI. MQS Management LLC purchased a new stake in Colliers International Group during the first quarter worth about $527,000. Millennium Management LLC purchased a new stake in Colliers International Group during the fourth quarter worth about $3,587,000. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $12,869,000 after buying an additional 4,153 shares in the last quarter. Victory Capital Management Inc. boosted its holdings 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 worth $84,548,000 after buying an additional 7,815 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings 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 worth $12,678,000 after buying an additional 47,195 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Colliers International Group Trading Up 1.5%

Shares of NASDAQ:CIGI traded up $2.48 during trading on Thursday, reaching $163.32. The stock had a trading volume of 61,018 shares, compared to its average volume of 134,083. The business has a fifty day moving average price of $148.54 and a 200-day moving average price of $131.36. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The stock has a market cap of $8.08 billion, a P/E ratio of 74.22 and a beta of 1.41. Colliers International Group Inc. has a fifty-two week low of $100.86 and a fifty-two week 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 EPS for the quarter, topping 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $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, analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CIGI has been the topic of a number of research analyst reports. National Bankshares boosted their price objective 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. Scotiabank upped their price target 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. Royal Bank Of Canada upped their price target 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. Raymond James Financial upped their price target on shares of Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, JMP Securities assumed coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.