Intact Investment Management Inc. Makes New Investment in Colliers International Group Inc. (NASDAQ:CIGI)

Intact Investment Management Inc. acquired a new position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 62,420 shares of the financial services provider’s stock, valued at approximately $6,970,000. Intact Investment Management Inc. owned about 0.13% of Colliers International Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CIGI. Norges Bank acquired a new stake in Colliers International Group during the 4th quarter worth about $47,753,000. The Manufacturers Life Insurance Company lifted its position in shares of Colliers International Group by 48.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock valued at $88,405,000 after acquiring an additional 228,824 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Colliers International Group in the 4th quarter worth approximately $28,421,000. AGF Management Ltd. grew its position in Colliers International Group by 126.5% during the 4th quarter. AGF Management Ltd. now owns 122,633 shares of the financial services provider’s stock worth $15,511,000 after purchasing an additional 68,479 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Colliers International Group by 13.7% during the 4th quarter. Wellington Management Group LLP now owns 561,869 shares of the financial services provider’s stock valued at $71,212,000 after purchasing an additional 67,857 shares during the period. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Trading Up 1.2 %

Colliers International Group stock opened at $144.26 on Friday. Colliers International Group Inc. has a one year low of $83.38 and a one year high of $147.53. The company’s fifty day moving average price is $129.31 and its two-hundred day moving average price is $119.92. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 70.37 and a beta of 1.50. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts forecast that Colliers International Group Inc. will post 5.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CIGI shares. BMO Capital Markets upped their price target on Colliers International Group from $140.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Colliers International Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of Colliers International Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Scotiabank boosted their price target on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a report on Friday, August 2nd. Finally, Raymond James cut Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Colliers International Group presently has an average rating of “Moderate Buy” and a consensus price target of $155.83.

Colliers International Group Company Profile

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.