Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Colliers International Group Inc. (NASDAQ:CIGI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 13.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,832 shares of the financial services provider’s stock after buying an additional 1,074 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Colliers International Group were worth $1,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia grew its position in shares of Colliers International Group by 7.2% in the 3rd quarter. Bank of Nova Scotia now owns 2,796 shares of the financial services provider’s stock worth $266,000 after buying an additional 187 shares during the last quarter. Blair William & Co. IL grew its position in Colliers International Group by 0.9% during the 3rd quarter. Blair William & Co. IL now owns 26,437 shares of the financial services provider’s stock worth $2,518,000 after purchasing an additional 241 shares during the last quarter. Whittier Trust Co. grew its position in Colliers International Group by 12.8% during the 3rd quarter. Whittier Trust Co. now owns 2,781 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 315 shares during the last quarter. Compass Ion Advisors LLC grew its position in Colliers International Group by 16.5% during the 4th quarter. Compass Ion Advisors LLC now owns 2,681 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 380 shares during the last quarter. Finally, Tobam purchased a new stake in Colliers International Group during the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Performance

NASDAQ:CIGI opened at $108.03 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average of $117.36 and a two-hundred day moving average of $111.89. The stock has a market capitalization of $5.28 billion, a PE ratio of 81.84 and a beta of 1.46. Colliers International Group Inc. has a fifty-two week low of $83.38 and a fifty-two week high of $131.05.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.01). The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.20 billion. Colliers International Group had a return on equity of 32.94% and a net margin of 1.51%. As a group, research analysts forecast that Colliers International Group Inc. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Scotiabank dropped their target price on shares of Colliers International Group from $140.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, April 17th. Stifel Nicolaus upped their price objective on shares of Colliers International Group from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Colliers International Group in a report on Thursday, February 29th. BMO Capital Markets boosted their target price on shares of Colliers International Group from $129.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Raymond James boosted their target price on shares of Colliers International Group from $140.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.50.

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.