Stonegate Investment Group LLC Makes New $264,000 Investment in Colliers International Group Inc. (NASDAQ:CIGI)

Stonegate Investment Group LLC acquired a new stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,740 shares of the financial services provider’s stock, valued at approximately $264,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Colliers International Group by 47.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock valued at $112,834,000 after purchasing an additional 326,453 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Colliers International Group by 91.3% in the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock valued at $34,677,000 after buying an additional 148,265 shares in the last quarter. Wellington Management Group LLP lifted its stake in Colliers International Group by 13.7% in 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 buying an additional 67,857 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Colliers International Group in the 2nd quarter worth about $6,970,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Colliers International Group during the 1st quarter worth approximately $7,092,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CIGI has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Stifel Nicolaus lifted their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Raymond James cut shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price objective on shares of Colliers International Group in a report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Colliers International Group Price Performance

Colliers International Group stock opened at $151.22 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average price of $145.17 and a 200 day moving average price of $126.36. Colliers International Group Inc. has a 12-month low of $83.38 and a 12-month high of $154.11. The stock has a market cap of $7.40 billion, a P/E ratio of 73.77 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts anticipate that Colliers International Group Inc. will post 5.66 earnings per share for the current year.

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.