Vestcor Inc Makes New $2.21 Million Investment in Colliers International Group Inc. $CIGI

Key Points

• Vestcor Inc bought a new position in Colliers International Group, purchasing 15,000 shares worth about $2.21 million in the fourth quarter.
• Institutional ownership remains heavy, with hedge funds and other institutions holding about 80.09% of the company; several large investors also recently boosted their stakes.
• Colliers reported mixed quarterly results, missing EPS and revenue estimates, while analysts still rate the stock a Moderate Buy with a consensus target price of $162.89.

Vestcor Inc purchased a new position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the financial services provider's stock, valued at approximately $2,205,000.

A number of other institutional investors have also bought and sold shares of CIGI. Durable Capital Partners LP increased its stake in Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider's stock worth $473,273,000 after buying an additional 652,744 shares in the last quarter. Norges Bank purchased a new stake in Colliers International Group in the 4th quarter worth $84,906,000. JPMorgan Chase & Co. increased its stake in Colliers International Group by 114,621.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider's stock worth $53,762,000 after buying an additional 343,865 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Colliers International Group by 732.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 214,234 shares of the financial services provider's stock worth $33,498,000 after buying an additional 188,508 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Colliers International Group by 2,790.6% in the 3rd quarter. Citadel Advisors LLC now owns 94,755 shares of the financial services provider's stock worth $14,802,000 after buying an additional 91,477 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Colliers International Group Stock Performance

Shares of Colliers International Group stock opened at $97.16 on Monday. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 59.98 and a beta of 1.26. The business has a 50-day moving average price of $103.22 and a 200-day moving average price of $122.47. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23. Colliers International Group Inc. has a twelve month low of $90.93 and a twelve month high of $171.51.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings data 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). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the business earned $0.87 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts anticipate that Colliers International Group Inc. will post 6.39 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Colliers International Group's dividend payout ratio (DPR) is presently 18.52%.

Wall Street Analysts Forecast Growth

CIGI has been the subject of a number of analyst reports. Weiss Ratings lowered Colliers International Group from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. 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 research report on Wednesday, May 6th. National Bank Financial cut their price objective on Colliers International Group from $160.00 to $143.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Raymond James Financial cut their price objective on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Finally, Scotia cut their price objective on Colliers International Group from $155.00 to $150.00 and set a "sector outperform" rating for the company in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.89.

Colliers International Group Company Profile

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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