Sei Investments Co. Grows Stake in Colliers International Group Inc. $CIGI

Sei Investments Co. raised its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 31.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,680 shares of the financial services provider’s stock after purchasing an additional 6,545 shares during the period. Sei Investments Co. owned about 0.05% of Colliers International Group worth $2,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Durable Capital Partners LP increased its stake in shares of Colliers International Group by 2.0% during the third quarter. Durable Capital Partners LP now owns 3,699,124 shares of the financial services provider’s stock valued at $577,840,000 after buying an additional 73,623 shares during the period. Vanguard Group Inc. lifted its stake in Colliers International Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,996,018 shares of the financial services provider’s stock worth $293,379,000 after acquiring an additional 23,516 shares during the period. FIL Ltd lifted its stake in Colliers International Group by 5.0% in the fourth quarter. FIL Ltd now owns 1,780,980 shares of the financial services provider’s stock worth $261,772,000 after acquiring an additional 85,078 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Colliers International Group by 16.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,308,985 shares of the financial services provider’s stock worth $192,436,000 after acquiring an additional 187,663 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Colliers International Group by 69.0% during the 4th quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock worth $158,274,000 after acquiring an additional 439,607 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CIGI. Weiss Ratings upgraded shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday. Scotiabank dropped their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Raymond James Financial cut their price objective on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Royal Bank Of Canada reduced their price objective on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, Scotia lowered their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Stock Performance

Shares of CIGI opened at $101.54 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.23 and a debt-to-equity ratio of 1.61. The firm has a market cap of $5.19 billion, a PE ratio of 48.35 and a beta of 1.24. Colliers International Group Inc. has a 12 month low of $88.38 and a 12 month high of $171.51. The stock has a fifty day moving average price of $97.05 and a 200-day moving average price of $107.56.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.04. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $1.72 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Colliers International Group’s payout ratio is presently 14.29%.

Colliers International Group 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.