264,329 Shares in Colliers International Group Inc. $CIGI Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 264,329 shares of the financial services provider’s stock, valued at approximately $37,549,000.

A number of other hedge funds have also bought and sold shares of CIGI. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Colliers International Group in the third quarter valued at $26,000. Kestra Advisory Services LLC purchased a new position in shares of Colliers International Group during the 4th quarter worth about $32,000. Arax Advisory Partners boosted its stake in shares of Colliers International Group by 137.0% during the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 126 shares during the period. Trust Co. of Vermont purchased a new position in shares of Colliers International Group during the 2nd quarter worth about $36,000. Finally, JPMorgan Chase & Co. bought a new position in Colliers International Group during the 2nd quarter valued at about $39,000. Institutional investors own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

CIGI has been the subject of several analyst reports. BMO Capital Markets decreased their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Scotia dropped their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 31st. National Bank Financial upped their target price on Colliers International Group from $109.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Royal Bank Of Canada reduced their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Scotiabank decreased their price target on 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.62.

Colliers International Group Trading Down 1.5%

NASDAQ CIGI opened at $102.97 on Friday. The company’s 50-day moving average price is $99.46 and its 200-day moving average price is $104.03. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. The stock has a market cap of $5.26 billion, a PE ratio of 49.03 and a beta of 1.24. Colliers International Group Inc. has a 12 month low of $88.38 and a 12 month high of $171.51.

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