1832 Asset Management L.P. Increases Stock Position in Colliers International Group Inc. (NASDAQ:CIGI)

1832 Asset Management L.P. grew its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,561 shares of the financial services provider’s stock after purchasing an additional 12,168 shares during the period. 1832 Asset Management L.P. owned approximately 0.61% of Colliers International Group worth $33,558,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its stake in Colliers International Group by 575.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 304 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Colliers International Group by 252.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 316 shares in the last quarter. Security National Bank purchased a new position in Colliers International Group in the fourth quarter worth about $70,000. Finally, Central Pacific Bank Trust Division bought a new stake in Colliers International Group during the first quarter worth approximately $118,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Stock Down 0.2 %

Shares of CIGI opened at $148.86 on Tuesday. The firm has a market capitalization of $7.28 billion, a P/E ratio of 72.61 and a beta of 1.49. Colliers International Group Inc. has a 12-month low of $83.38 and a 12-month high of $150.38. The firm has a fifty day moving average price of $139.08 and a 200-day moving average price of $122.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. Colliers International Group’s revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that Colliers International Group Inc. will post 5.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CIGI shares. Scotiabank lifted their target price on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Colliers International Group from a “hold” rating to a “buy” rating in a research note on Monday. National Bankshares lifted their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price objective on shares of Colliers International Group in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

About Colliers International Group

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.