Louisbourg Investments Inc. Increases Stock Holdings in Colliers International Group Inc. $CIGI

Louisbourg Investments Inc. boosted its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 46.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 75,882 shares of the financial services provider’s stock after acquiring an additional 24,110 shares during the quarter. Colliers International Group accounts for about 1.4% of Louisbourg Investments Inc.’s portfolio, making the stock its 19th biggest holding. Louisbourg Investments Inc.’s holdings in Colliers International Group were worth $8,097,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its position in shares of Colliers International Group by 9.3% in the first quarter. Pictet Asset Management Holding SA now owns 8,518 shares of the financial services provider’s stock valued at $908,000 after purchasing an additional 726 shares during the period. Cidel Asset Management Inc. raised its position in shares of Colliers International Group by 189.4% during the 1st quarter. Cidel Asset Management Inc. now owns 127,860 shares of the financial services provider’s stock worth $13,627,000 after purchasing an additional 83,684 shares during the last quarter. Kirr Marbach & Co. LLC IN lifted its stake in Colliers International Group by 1.7% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 138,731 shares of the financial services provider’s stock valued at $14,829,000 after buying an additional 2,383 shares in the last quarter. Invesco Ltd. boosted its holdings in Colliers International Group by 2.1% in the 4th quarter. Invesco Ltd. now owns 245,824 shares of the financial services provider’s stock worth $36,139,000 after buying an additional 4,969 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in Colliers International Group during the 4th quarter worth approximately $312,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CIGI shares. National Bank Financial decreased their target price on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Zacks Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Raymond James Financial reduced their price objective on Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. Weiss Ratings lowered Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Scotia lowered their target price on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.89.

Colliers International Group Price Performance

NASDAQ:CIGI opened at $92.67 on Friday. Colliers International Group Inc. has a one year low of $88.38 and a one year high of $171.51. The stock has a market cap of $4.74 billion, a PE ratio of 57.20 and a beta of 1.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a 50 day moving average price of $98.92 and a 200 day moving average price of $117.57.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts expect that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Colliers International Group’s payout ratio is presently 18.52%.

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.