Colliers International Group Inc. $CIGI Shares Bought by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 189.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,860 shares of the financial services provider’s stock after purchasing an additional 83,684 shares during the quarter. Cidel Asset Management Inc. owned 0.25% of Colliers International Group worth $13,627,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CIGI. Citigroup Inc. increased its holdings in Colliers International Group by 1,164.9% in the 3rd quarter. Citigroup Inc. now owns 54,745 shares of the financial services provider’s stock worth $8,564,000 after buying an additional 50,417 shares during the period. Alberta Investment Management Corp purchased a new position in Colliers International Group during the 4th quarter worth approximately $47,799,000. Vestcor Inc purchased a new position in Colliers International Group during the 4th quarter worth approximately $2,205,000. UBS Group AG lifted its stake in Colliers International Group by 48.3% during the 4th quarter. UBS Group AG now owns 38,202 shares of the financial services provider’s stock valued at $5,616,000 after acquiring an additional 12,439 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Colliers International Group by 114,621.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock valued at $53,762,000 after acquiring an additional 343,865 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Stock Performance

CIGI opened at $89.53 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a fifty day moving average price of $100.31 and a 200 day moving average price of $118.53. Colliers International Group Inc. has a 1 year low of $89.05 and a 1 year high of $171.51. The stock has a market cap of $4.57 billion, a P/E ratio of 55.27 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Colliers International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Colliers International Group’s payout ratio is currently 18.52%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CIGI. Raymond James Financial cut their price objective on shares of Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. BMO Capital Markets decreased their target price on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Zacks Research raised shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Scotia cut their price target on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, April 15th. Finally, Weiss Ratings lowered Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.89.

Colliers International Group Profile

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.