Clearbridge Investments LLC Purchases 148,265 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Clearbridge Investments LLC boosted its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 91.3% in the second quarter, HoldingsChannel reports. The fund owned 310,602 shares of the financial services provider’s stock after purchasing an additional 148,265 shares during the quarter. Clearbridge Investments LLC’s holdings in Colliers International Group were worth $34,677,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vulcan Value Partners LLC lifted its holdings in shares of Colliers International Group by 4.6% during the 2nd quarter. Vulcan Value Partners LLC now owns 454,181 shares of the financial services provider’s stock valued at $50,767,000 after purchasing an additional 20,150 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Colliers International Group by 47.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock valued at $112,834,000 after buying an additional 326,453 shares in the last quarter. Toronto Dominion Bank raised its stake in Colliers International Group by 4.8% in the second quarter. Toronto Dominion Bank now owns 17,200 shares of the financial services provider’s stock valued at $1,920,000 after buying an additional 789 shares during the last quarter. Bank of Montreal Can boosted its holdings in Colliers International Group by 0.9% in the second quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock worth $76,703,000 after acquiring an additional 6,178 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Colliers International Group by 4.2% during the second quarter. 1832 Asset Management L.P. now owns 300,561 shares of the financial services provider’s stock worth $33,558,000 after acquiring an additional 12,168 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Price Performance

NASDAQ:CIGI opened at $148.82 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day moving average price of $141.90 and a 200-day moving average price of $124.03. Colliers International Group Inc. has a 1-year low of $83.38 and a 1-year high of $154.11. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 72.60 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. Equities research analysts forecast that Colliers International Group Inc. will post 5.66 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on CIGI shares. Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their price objective on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 target price on shares of Colliers International Group in a research report on Monday, September 9th. Finally, StockNews.com upgraded Colliers International Group from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and a consensus price target 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.