577,640 Shares in Colliers International Group Inc. $CIGI Acquired by Norges Bank

Norges Bank bought a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 577,640 shares of the financial services provider’s stock, valued at approximately $84,906,000. Norges Bank owned approximately 1.16% of Colliers International Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CIGI. Geode Capital Management LLC grew its stake in shares of Colliers International Group by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 86,531 shares of the financial services provider’s stock worth $12,815,000 after acquiring an additional 6,912 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of Colliers International Group by 7.6% during the 4th quarter. King Luther Capital Management Corp now owns 39,749 shares of the financial services provider’s stock worth $5,844,000 after acquiring an additional 2,806 shares in the last quarter. Royce & Associates LP grew its stake in shares of Colliers International Group by 0.6% during the 4th quarter. Royce & Associates LP now owns 383,228 shares of the financial services provider’s stock worth $56,338,000 after acquiring an additional 2,348 shares in the last quarter. Versor Investments LP grew its stake in shares of Colliers International Group by 6.2% during the 4th quarter. Versor Investments LP now owns 2,415 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 142 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Colliers International Group by 82.9% during the 4th quarter. First Eagle Investment Management LLC now owns 6,234 shares of the financial services provider’s stock worth $916,000 after acquiring an additional 2,826 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CIGI has been the subject of several recent analyst reports. BMO Capital Markets cut their price objective on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Scotiabank cut their price objective on Colliers International Group from $185.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Weiss Ratings downgraded Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Stifel Nicolaus set a $175.00 price objective on Colliers International Group in a report on Friday, March 13th. Finally, Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.89.

Colliers International Group Stock Down 0.3%

CIGI opened at $97.16 on Friday. Colliers International Group Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $171.51. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $4.96 billion, a P/E ratio of 59.98 and a beta of 1.26. The stock has a fifty day moving average of $103.22 and a 200-day moving average of $122.59.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted 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). Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $0.87 EPS. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Colliers International Group Inc. will post 6.39 EPS for the current year.

Colliers International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Colliers International Group’s payout ratio is currently 18.52%.

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.