Colliers International Group Inc. $CIGI Stake Reduced by Addenda Capital Inc.

Addenda Capital Inc. reduced its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 1.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 157,780 shares of the financial services provider’s stock after selling 2,640 shares during the period. Addenda Capital Inc.’s holdings in Colliers International Group were worth $20,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of CIGI. Millennium Management LLC acquired a new stake in Colliers International Group during the 4th quarter worth about $3,587,000. Tidal Investments LLC bought a new position in Colliers International Group in the 4th quarter valued at $222,000. Public Employees Retirement System of Ohio raised its position in shares of Colliers International Group by 6.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 24,776 shares of the financial services provider’s stock worth $3,368,000 after acquiring an additional 1,444 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 100 shares during the last quarter. Finally, Fenimore Asset Management Inc grew its stake in Colliers International Group by 1.9% in the first quarter. Fenimore Asset Management Inc now owns 240,080 shares of the financial services provider’s stock valued at $29,122,000 after acquiring an additional 4,427 shares during the period. Institutional investors own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CIGI shares. National Bankshares upped their price objective on Colliers International Group from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. JMP Securities assumed coverage on Colliers International Group in a research report on Monday, July 21st. They issued a “market perform” rating for the company. Stifel Nicolaus boosted their price objective on Colliers International Group from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Royal Bank Of Canada increased their target price on Colliers International Group from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Raymond James Financial raised their price target on Colliers International Group from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.80.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $157.00 on Friday. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $170.65. The firm has a market cap of $7.78 billion, a P/E ratio of 71.36 and a beta of 1.41. The company has a 50 day moving average of $159.07 and a 200 day moving average of $135.83. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.20. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, research analysts expect that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

About Colliers International Group

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.