Massachusetts Financial Services Co. MA Purchases 58,858 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Massachusetts Financial Services Co. MA raised its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 93.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 121,801 shares of the financial services provider’s stock after purchasing an additional 58,858 shares during the period. Massachusetts Financial Services Co. MA owned 0.25% of Colliers International Group worth $18,491,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CIGI. Vanguard Group Inc. increased its holdings in Colliers International Group by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock valued at $159,016,000 after buying an additional 5,152 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Colliers International Group by 7.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 11,751 shares of the financial services provider’s stock valued at $1,435,000 after acquiring an additional 770 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Colliers International Group in the 1st quarter valued at $205,000. Addenda Capital Inc. lifted its stake in shares of Colliers International Group by 20.6% during the 2nd quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider’s stock worth $17,152,000 after purchasing an additional 26,263 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Colliers International Group by 3,377.8% during the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

NASDAQ CIGI opened at $154.17 on Tuesday. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 49.10 and a beta of 1.50. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s fifty day moving average price is $149.28 and its 200 day moving average price is $133.26. Colliers International Group Inc. has a 1 year low of $101.01 and a 1 year high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Colliers International Group Inc. will post 5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

CIGI has been the subject of several analyst reports. BMO Capital Markets increased their price target on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada upped their price target on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Scotiabank increased their price objective on Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Finally, National Bankshares upped their target price on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Colliers International Group presently has a consensus rating of “Moderate Buy” and an average price target of $160.42.

Colliers International Group 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.