Cornerstone Investment Partners LLC Purchases Shares of 1,991 Colliers International Group Inc. (NASDAQ:CIGI)

Cornerstone Investment Partners LLC acquired a new stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,991 shares of the financial services provider’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Colliers International Group by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,292,876 shares of the financial services provider’s stock worth $123,146,000 after purchasing an additional 22,603 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Colliers International Group by 33.6% during the fourth quarter. Mackenzie Financial Corp now owns 725,052 shares of the financial services provider’s stock valued at $91,754,000 after buying an additional 182,167 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Colliers International Group by 10.0% during the third quarter. Ameriprise Financial Inc. now owns 718,321 shares of the financial services provider’s stock valued at $68,420,000 after purchasing an additional 65,332 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Colliers International Group by 0.3% in the first quarter. Renaissance Technologies LLC now owns 700,500 shares of the financial services provider’s stock valued at $73,937,000 after purchasing an additional 2,200 shares during the period. Finally, Invesco Ltd. grew its stake in Colliers International Group by 4.0% during the first quarter. Invesco Ltd. now owns 602,059 shares of the financial services provider’s stock valued at $78,510,000 after acquiring an additional 23,091 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James upped their target price on shares of Colliers International Group from $140.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 9th. Scotiabank decreased their price objective on Colliers International Group from $140.00 to $135.00 and set a “sector outperform” rating for the company in a report on Wednesday. BMO Capital Markets upped their target price on Colliers International Group from $129.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Stifel Nicolaus upped their target price on Colliers International Group from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Colliers International Group in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.50.

Colliers International Group Price Performance

Shares of CIGI traded down $0.14 on Friday, hitting $106.80. The company’s stock had a trading volume of 35,737 shares, compared to its average volume of 111,576. The company has a 50 day moving average price of $119.40 and a 200 day moving average price of $111.32. Colliers International Group Inc. has a fifty-two week low of $83.38 and a fifty-two week high of $131.05. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $5.21 billion, a PE ratio of 81.53 and a beta of 1.46.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.01). Colliers International Group had a return on equity of 32.94% and a net margin of 1.51%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.20 billion. On average, research analysts anticipate that Colliers International Group Inc. will post 5.62 earnings per share for the current fiscal year.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.