Bank of Nova Scotia decreased its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 38.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,173 shares of the financial services provider’s stock after selling 3,278 shares during the period. Bank of Nova Scotia’s holdings in Colliers International Group were worth $245,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. purchased a new position in shares of Colliers International Group during the first quarter valued at approximately $230,000. UBS Group AG boosted its position in shares of Colliers International Group by 15.0% in the first quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock valued at $234,000 after buying an additional 645 shares during the last quarter. Ativo Capital Management LLC purchased a new position in shares of Colliers International Group during the first quarter valued at approximately $236,000. Citadel Advisors LLC purchased a new position in shares of Colliers International Group during the first quarter valued at approximately $249,000. Finally, Parametric Portfolio Associates LLC raised its stake in Colliers International Group by 21.0% in the first quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock worth $475,000 after buying an additional 1,743 shares during the period. Institutional investors own 59.40% of the company’s stock.
Colliers International Group Inc. (NASDAQ:CIGI) traded down 1.81% during midday trading on Tuesday, reaching $51.55. 37,101 shares of the company’s stock were exchanged. The company has a market cap of $2.00 billion, a P/E ratio of 31.15 and a beta of 1.73. Colliers International Group Inc. has a 12 month low of $34.20 and a 12 month high of $60.75. The company has a 50 day moving average price of $55.07 and a 200 day moving average price of $49.32.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.16. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The firm had revenue of $544.20 million during the quarter, compared to analysts’ expectations of $515.45 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Colliers International Group Inc. will post $2.87 EPS for the current year.
The business also recently announced a semiannual dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were issued a dividend of $0.05 per share. This represents a yield of 0.19%. The ex-dividend date of this dividend was Wednesday, June 28th. Colliers International Group’s dividend payout ratio is presently 6.02%.
Colliers International Group announced that its Board of Directors has authorized a stock repurchase plan on Thursday, July 13th that authorizes the company to buyback 2,700,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of research firms have recently issued reports on CIGI. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 price target (up from $58.00) on shares of Colliers International Group in a research report on Tuesday. Zacks Investment Research lowered shares of Colliers International Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Scotiabank cut their price objective on shares of Colliers International Group from $76.00 to $75.50 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $75.00 price objective (up previously from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. Finally, BMO Capital Markets raised their price objective on shares of Colliers International Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $65.70.
Colliers International Group Company Profile
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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