Shell Asset Management Co. continued to hold its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,333 shares of the financial services provider’s stock at the end of the 2nd quarter. Shell Asset Management Co.’s holdings in Colliers International Group were worth $244,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tower Research Capital LLC TRC grew its position in Colliers International Group by 60.3% during 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 during the period. JPMorgan Chase & Co. bought a new stake in Colliers International Group during the first quarter valued at approximately $230,000. Atria Investments LLC purchased a new position in Colliers International Group during the second quarter valued at approximately $230,000. UBS Group AG lifted its holdings in Colliers International Group by 15.0% during the first quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 645 shares in the last quarter. Finally, Ativo Capital Management LLC purchased a new position in Colliers International Group during the first quarter valued at approximately $236,000. 63.51% of the stock is owned by institutional investors.
CIGI has been the topic of several research reports. ValuEngine upgraded shares of Colliers International Group from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub raised shares of Colliers International Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. Scotiabank lowered their price objective on shares of Colliers International Group from $76.00 to $75.50 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of Colliers International Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 price target (up from $58.00) on shares of Colliers International Group in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.70.
Colliers International Group Inc. (NASDAQ:CIGI) traded down 0.29% during midday trading on Tuesday, reaching $51.75. The company had a trading volume of 124,168 shares. Colliers International Group Inc. has a 12 month low of $34.20 and a 12 month high of $60.75. The firm’s 50-day moving average price is $52.29 and its 200 day moving average price is $51.21. The firm has a market capitalization of $2.01 billion, a PE ratio of 31.27 and a beta of 1.74.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) 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 business had revenue of $544.20 million for the quarter, compared to the consensus estimate of $515.45 million. During the same period in the prior year, the business earned $0.63 earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. Equities analysts anticipate that Colliers International Group Inc. will post $2.87 earnings per share for the current fiscal year.
Colliers International Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 13th that authorizes the company to repurchase 2,700,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Colliers International Group Profile
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.
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