Turtle Creek Asset Management Inc. Has $174.61 Million Stock Holdings in Colliers International Group Inc. $CIGI

Turtle Creek Asset Management Inc. boosted its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 100.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,633,556 shares of the financial services provider’s stock after buying an additional 820,315 shares during the period. Colliers International Group makes up approximately 6.5% of Turtle Creek Asset Management Inc.’s holdings, making the stock its 2nd biggest holding. Turtle Creek Asset Management Inc.’s holdings in Colliers International Group were worth $174,611,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alberta Investment Management Corp acquired a new stake in shares of Colliers International Group in the fourth quarter valued at approximately $47,799,000. Vestcor Inc acquired a new position in Colliers International Group during the fourth quarter worth $2,205,000. UBS Group AG boosted its holdings in Colliers International Group by 48.3% during the fourth quarter. UBS Group AG now owns 38,202 shares of the financial services provider’s stock worth $5,616,000 after purchasing an additional 12,439 shares during the last quarter. Norges Bank bought a new position in Colliers International Group in the fourth quarter valued at $84,906,000. Finally, Montrusco Bolton Investments Inc. grew its position in Colliers International Group by 12.5% in the first quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider’s stock valued at $15,484,000 after purchasing an additional 16,108 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Performance

Shares of NASDAQ CIGI opened at $101.21 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s fifty day moving average price is $96.51 and its two-hundred day moving average price is $109.56. Colliers International Group Inc. has a one year low of $88.38 and a one year high of $171.51. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 62.48 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.26 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 earnings per share. On average, equities analysts forecast that Colliers International Group Inc. will post 6.82 EPS for the current year.

Colliers International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Colliers International Group’s dividend payout ratio (DPR) is presently 18.52%.

Analyst Ratings Changes

A number of research firms have recently commented on CIGI. Scotia reduced their price objective on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 15th. Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Weiss Ratings lowered Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. National Bank Financial reduced their price target on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Royal Bank Of Canada lowered their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $159.11.

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.