Empowered Funds LLC Raises Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Empowered Funds LLC increased its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 60.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,415 shares of the financial services provider’s stock after buying an additional 4,678 shares during the period. Empowered Funds LLC’s holdings in Colliers International Group were worth $1,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Colliers International Group by 47.6% during the second 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 acquiring an additional 326,453 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Colliers International Group by 91.3% in the second quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock valued at $34,677,000 after acquiring an additional 148,265 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in Colliers International Group in the second quarter worth about $6,970,000. Victory Capital Management Inc. increased its position in Colliers International Group by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock valued at $82,973,000 after purchasing an additional 41,225 shares during the period. Finally, Addenda Capital Inc. lifted its position in shares of Colliers International Group by 20.6% in the 2nd quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider’s stock worth $17,152,000 after purchasing an additional 26,263 shares during the period. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $142.04 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $6.98 billion, a PE ratio of 45.24 and a beta of 1.50. Colliers International Group Inc. has a one year low of $101.01 and a one year high of $156.96. The firm has a fifty day moving average of $149.29 and a 200 day moving average of $132.63.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company earned $1.10 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts predict that Colliers International Group Inc. will post 5.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on CIGI shares. Raymond James lowered Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. StockNews.com downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Scotiabank boosted their target price on Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price target on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus boosted their price target on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.42.

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.