Norges Bank Invests $24.10 Million in Colliers International Group Inc (CIGI) Stock

Norges Bank bought a new position in shares of Colliers International Group Inc (NASDAQ:CIGI) (TSE:CIGI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 437,299 shares of the financial services provider’s stock, valued at approximately $24,103,000. Norges Bank owned 1.15% of Colliers International Group as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Beutel Goodman & Co Ltd. boosted its position in Colliers International Group by 3.1% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,290,289 shares of the financial services provider’s stock worth $7,118,000 after purchasing an additional 38,690 shares during the period. Vanguard Group Inc boosted its position in Colliers International Group by 4.2% during the third quarter. Vanguard Group Inc now owns 944,967 shares of the financial services provider’s stock worth $73,282,000 after purchasing an additional 38,283 shares during the period. Vanguard Group Inc. boosted its position in Colliers International Group by 4.2% during the third quarter. Vanguard Group Inc. now owns 944,967 shares of the financial services provider’s stock worth $73,282,000 after purchasing an additional 38,283 shares during the period. Mawer Investment Management Ltd. boosted its position in Colliers International Group by 8.0% during the fourth quarter. Mawer Investment Management Ltd. now owns 455,134 shares of the financial services provider’s stock worth $25,265,000 after purchasing an additional 33,810 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Colliers International Group by 230.7% during the fourth quarter. CIBC Asset Management Inc now owns 414,106 shares of the financial services provider’s stock worth $22,844,000 after purchasing an additional 288,878 shares during the period. 69.67% of the stock is owned by hedge funds and other institutional investors.

CIGI has been the subject of a number of recent analyst reports. JMP Securities raised Colliers International Group from a “market perform” rating to an “outperform” rating and set a $63.66 target price for the company in a research report on Monday, February 4th. Raymond James reissued an “outperform” rating and issued a $85.00 price objective on shares of Colliers International Group in a research report on Wednesday, April 3rd. BidaskClub raised Colliers International Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th. ValuEngine raised Colliers International Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Finally, William Blair reissued an “outperform” rating on shares of Colliers International Group in a research report on Wednesday, February 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $78.67.

CIGI opened at $69.03 on Monday. Colliers International Group Inc has a 1-year low of $52.01 and a 1-year high of $84.20. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $2.63 billion, a PE ratio of 28.18 and a beta of 1.54.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.12. The company had revenue of $889.88 million during the quarter, compared to analysts’ expectations of $866.25 million. Colliers International Group had a return on equity of 28.18% and a net margin of 3.46%. Colliers International Group’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. As a group, sell-side analysts predict that Colliers International Group Inc will post 3.27 EPS for the current year.

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About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporations, financial institutions, governments, and individuals worldwide. The company's Sales and Lease Brokerage division offers transaction brokerage services, including landlord representation, tenant representation, and capital markets and investment services, as well as property management, leasing, and valuations.

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Institutional Ownership by Quarter for Colliers International Group (NASDAQ:CIGI)

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