Van Berkom & Associates Inc. Buys New Position in Colliers International Group Inc. $CIGI

Key Points

• Van Berkom & Associates Inc. disclosed a new first-quarter position in Colliers International Group, buying 41,351 shares valued at about $4.41 million.
• Colliers reported Q1 earnings of $0.91 per share, missing analyst expectations by a penny, while revenue of $1.13 billion also came in below estimates despite rising 15.1% year over year.
• The company declared a quarterly dividend of $0.15 per share, and analysts currently have a consensus rating of Moderate Buy with an average price target of $159.11.

Van Berkom & Associates Inc. bought a new stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 41,351 shares of the financial services provider's stock, valued at approximately $4,412,000. Van Berkom & Associates Inc. owned about 0.08% of Colliers International Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alberta Investment Management Corp bought a new stake in shares of Colliers International Group during the 4th quarter worth $47,799,000. Vestcor Inc bought a new position in Colliers International Group in the fourth quarter valued at $2,205,000. UBS Group AG increased its stake in Colliers International Group by 48.3% in the fourth quarter. UBS Group AG now owns 38,202 shares of the financial services provider's stock valued at $5,616,000 after acquiring an additional 12,439 shares during the last quarter. Norges Bank purchased a new stake in Colliers International Group during the fourth quarter valued at about $84,906,000. Finally, Montrusco Bolton Investments Inc. raised its position in Colliers International Group by 12.5% during the first quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider's stock valued at $15,484,000 after purchasing an additional 16,108 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $101.92 on Monday. The stock's 50-day moving average price is $95.78 and its 200-day moving average price is $112.25. Colliers International Group Inc. has a 12-month low of $88.38 and a 12-month high of $171.51. The stock has a market capitalization of $5.21 billion, a P/E ratio of 62.91 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.01). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.26 billion. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The company's revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $0.87 EPS. On average, equities analysts anticipate that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Colliers International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Colliers International Group's payout ratio is 18.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CIGI. Royal Bank Of Canada cut their price objective on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. Scotia decreased their price objective on Colliers International Group from $155.00 to $150.00 and set a "sector outperform" rating on the stock in a report on Wednesday, April 15th. Weiss Ratings downgraded Colliers International Group from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. National Bank Financial cut their target price on Colliers International Group from $143.00 to $109.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Finally, Raymond James Financial reduced their price target on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $159.11.

About Colliers International Group

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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