Cibc World Market Inc. Makes New $56.72 Million Investment in Colliers International Group Inc. $CIGI

Cibc World Market Inc. purchased a new stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 399,267 shares of the financial services provider’s stock, valued at approximately $56,724,000.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Colliers International Group during the third quarter worth about $26,000. Arax Advisory Partners raised its position in Colliers International Group by 137.0% in the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock valued at $32,000 after buying an additional 126 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Colliers International Group in the 4th quarter valued at approximately $32,000. Trust Co. of Vermont bought a new stake in Colliers International Group in the 2nd quarter valued at approximately $36,000. Finally, JPMorgan Chase & Co. acquired a new position in Colliers International Group during the 2nd quarter worth approximately $39,000. 80.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank decreased their price target on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Raymond James Financial reduced their target price on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Weiss Ratings raised shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada lowered their price target on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Finally, BMO Capital Markets cut their price target on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.56.

Colliers International Group Price Performance

NASDAQ:CIGI opened at $107.06 on Monday. Colliers International Group Inc. has a twelve month low of $88.38 and a twelve month high of $171.51. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 50.98 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61. The stock’s 50 day moving average price is $98.54 and its two-hundred day moving average price is $104.85.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.79 by $0.04. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. Equities research analysts expect that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

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.