Tobam purchased a new stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,309 shares of the financial services provider’s stock, valued at approximately $300,000.

Several other large investors have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Colliers International Group by 60.3% in the first quarter. Tower Research Capital LLC TRC now owns 3,485 shares of the financial services provider’s stock valued at $165,000 after buying an additional 1,311 shares in the last quarter. Atria Investments LLC purchased a new stake in Colliers International Group during the second quarter valued at about $230,000. Legal & General Group Plc raised its stake in Colliers International Group by 4.5% in the second quarter. Legal & General Group Plc now owns 4,587 shares of the financial services provider’s stock valued at $259,000 after buying an additional 198 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Colliers International Group during the first quarter valued at about $230,000. Finally, UBS Group AG raised its stake in Colliers International Group by 15.0% in the first quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock valued at $234,000 after buying an additional 645 shares in the last quarter. 63.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of Colliers International Group Inc. (NASDAQ CIGI) opened at 49.60 on Tuesday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 29.97 and a beta of 1.73. Colliers International Group Inc. has a 12 month low of $34.20 and a 12 month high of $60.75. The firm has a 50-day moving average price of $53.13 and a 200 day moving average price of $50.75.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $515.45 million. During the same quarter last year, the business posted $0.63 EPS. Colliers International Group’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts anticipate that Colliers International Group Inc. will post $2.87 EPS for the current fiscal year.

Colliers International Group announced that its board has authorized a stock buyback plan on Thursday, July 13th that permits the company to buyback 2,700,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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Several research firms recently issued reports on CIGI. Raymond James Financial, Inc. reissued an “outperform” rating and set a $75.00 price target (up from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. BidaskClub lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research lowered Colliers International Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Sidoti raised Colliers International Group from a “neutral” rating to a “buy” rating in a research report on Monday, August 14th. Finally, BMO Capital Markets upped their price target on Colliers International Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $65.70.

About Colliers International Group

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.

Institutional Ownership by Quarter for Colliers International Group (NASDAQ:CIGI)

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