Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 452.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,246 shares of the financial services provider’s stock after buying an additional 12,484 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Colliers International Group were worth $861,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of CIGI. Nationwide Fund Advisors purchased a new stake in Colliers International Group in the 1st quarter valued at about $2,918,000. Russell Investments Group Ltd. purchased a new stake in Colliers International Group in the 1st quarter valued at about $590,000. Karp Capital Management Corp purchased a new stake in Colliers International Group in the 1st quarter valued at about $943,000. Parametric Portfolio Associates LLC grew its holdings in Colliers International Group by 21.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock valued at $475,000 after buying an additional 1,743 shares during the period. Finally, Oxford Asset Management purchased a new stake in Colliers International Group in the 1st quarter valued at about $1,199,000. Institutional investors own 63.51% of the company’s stock.
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Shares of Colliers International Group Inc. (NASDAQ CIGI) opened at 51.20 on Tuesday. The stock has a market cap of $1.99 billion, a PE ratio of 30.94 and a beta of 1.74. The stock’s 50 day moving average price is $51.62 and its 200-day moving average price is $51.52. Colliers International Group Inc. has a one year low of $34.20 and a one year high of $60.75.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.16. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The company had revenue of $544.20 million for the quarter, compared to analyst estimates of $515.45 million. During the same period in the prior year, the firm posted $0.63 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Colliers International Group Inc. will post $2.87 earnings per share for the current fiscal year.
Colliers International Group declared that its Board of Directors has approved a share buyback plan on Thursday, July 13th that authorizes the company to buyback 2,700,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several analysts have commented on the company. Sidoti cut Colliers International Group from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. Zacks Investment Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Colliers International Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Scotiabank decreased their target price on Colliers International Group from $76.00 to $75.50 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $75.00 target price (up previously from $59.00) on shares of Colliers International Group in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Colliers International Group currently has a consensus rating of “Buy” and an average target price of $65.70.
Colliers International Group Profile
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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