Scotia Capital Inc. increased its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 46.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,073 shares of the financial services provider’s stock after buying an additional 2,242 shares during the period. Scotia Capital Inc.’s holdings in Colliers International Group were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CIGI. Russell Investments Group Ltd. purchased a new stake in shares of Colliers International Group in the first quarter valued at about $590,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Colliers International Group by 21.0% in the first quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 1,743 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Colliers International Group in the first quarter valued at about $230,000. Vanguard Group Inc. lifted its holdings in shares of Colliers International Group by 6.0% in the first quarter. Vanguard Group Inc. now owns 770,073 shares of the financial services provider’s stock valued at $36,347,000 after purchasing an additional 43,721 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Colliers International Group by 25.3% in the first quarter. Geode Capital Management LLC now owns 20,840 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 4,214 shares in the last quarter. 63.51% of the stock is currently owned by institutional investors.

Shares of Colliers International Group Inc. (NASDAQ:CIGI) opened at 54.35 on Tuesday. The firm has a 50 day moving average of $50.63 and a 200 day moving average of $51.86. The stock has a market cap of $2.11 billion, a P/E ratio of 32.84 and a beta of 1.74. Colliers International Group Inc. has a one year low of $34.20 and a one year high of $60.75.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.16. The company had revenue of $544.20 million for the quarter, compared to analysts’ expectations of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities research analysts predict that Colliers International Group Inc. will post $2.87 EPS for the current fiscal year.

Colliers International Group declared that its Board of Directors has initiated a stock buyback program on Thursday, July 13th that allows the company to repurchase 2,700,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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Several brokerages have issued reports on CIGI. Zacks Investment Research raised shares of Colliers International Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of Colliers International Group in a report on Wednesday, September 27th. Sidoti raised shares of Colliers International Group from a “neutral” rating to a “buy” rating in a report on Monday, August 14th. Finally, BidaskClub downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Colliers International Group presently has a consensus rating of “Buy” and a consensus target price of $68.88.

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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Institutional Ownership by Quarter for Colliers International Group (NASDAQ:CIGI)

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