Colliers International Group Inc. $CIGI Shares Bought by Canoe Financial LP

Canoe Financial LP lifted its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 10.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 40,180 shares of the financial services provider’s stock after buying an additional 3,901 shares during the quarter. Canoe Financial LP’s holdings in Colliers International Group were worth $6,283,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CIGI. Royal Bank of Canada raised its stake in Colliers International Group by 1.4% during the first quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider’s stock worth $462,816,000 after acquiring an additional 52,414 shares during the period. Durable Capital Partners LP grew its holdings in shares of Colliers International Group by 22.0% during the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock valued at $473,273,000 after purchasing an additional 652,744 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Colliers International Group by 21.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider’s stock worth $117,619,000 after purchasing an additional 158,668 shares during the period. Bank of Montreal Can lifted its holdings in shares of Colliers International Group by 0.4% in the 2nd quarter. Bank of Montreal Can now owns 686,130 shares of the financial services provider’s stock worth $89,830,000 after purchasing an additional 2,943 shares during the last quarter. Finally, Norges Bank acquired a new position in Colliers International Group during the 2nd quarter valued at approximately $74,820,000. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Up 0.6%

CIGI stock opened at $149.95 on Friday. The firm’s 50-day moving average is $149.56 and its two-hundred day moving average is $149.47. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 65.48 and a beta of 1.39. Colliers International Group Inc. has a 52 week low of $100.86 and a 52 week high of $171.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.27.

Colliers International Group Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a yield of 21.0%. Colliers International Group’s payout ratio is presently 13.10%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CIGI. Scotiabank increased their target price on Colliers International Group from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Stifel Nicolaus increased their price objective on shares of Colliers International Group from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. National Bankshares boosted their target price on shares of Colliers International Group from $181.00 to $185.00 in a research note on Monday, December 15th. CIBC upped their target price on shares of Colliers International Group from $175.00 to $179.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colliers International Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Colliers International Group has a consensus rating of “Moderate Buy” and a consensus target price of $176.70.

About Colliers International Group

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.