Geode Capital Management LLC Has $984,000 Stake in Colliers International Group Inc. (CIGI)

Geode Capital Management LLC raised its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 25.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,840 shares of the financial services provider’s stock after buying an additional 4,214 shares during the quarter. Geode Capital Management LLC owned about 0.05% of Colliers International Group worth $984,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Spruce House Investment Management LLC raised its stake in shares of Colliers International Group by 2.0% in the first quarter. Spruce House Investment Management LLC now owns 5,985,242 shares of the financial services provider’s stock worth $282,724,000 after purchasing an additional 117,823 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Colliers International Group by 7.7% in the first quarter. William Blair Investment Management LLC now owns 1,247,269 shares of the financial services provider’s stock worth $58,871,000 after acquiring an additional 88,869 shares during the period. Vanguard Group Inc. grew its holdings in shares of Colliers International Group by 6.0% in the first quarter. Vanguard Group Inc. now owns 770,073 shares of the financial services provider’s stock worth $36,347,000 after acquiring an additional 43,721 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Colliers International Group in the first quarter worth $14,540,000. Finally, Nationwide Fund Advisors bought a new stake in shares of Colliers International Group in the first quarter worth $2,918,000. Hedge funds and other institutional investors own 63.51% of the company’s stock.

Colliers International Group Inc. (NASDAQ CIGI) opened at 48.15 on Friday. Colliers International Group Inc. has a 52 week low of $34.20 and a 52 week high of $60.75. The company has a market cap of $1.87 billion, a PE ratio of 29.09 and a beta of 1.74. The company has a 50-day moving average price of $50.70 and a 200 day moving average price of $51.52.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.16. The firm had revenue of $544.20 million during the quarter, compared to analyst estimates of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. Colliers International Group’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. On average, equities research analysts forecast that Colliers International Group Inc. will post $2.87 EPS for the current fiscal year.

Colliers International Group announced that its board has approved a share repurchase program on Thursday, July 13th that allows the company to repurchase 2,700,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several analysts have issued reports on the company. ValuEngine raised Colliers International Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Sidoti upgraded Colliers International Group from a “neutral” rating to a “buy” rating in a research report on Monday, August 14th. BidaskClub downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 price objective (up from $58.00) on shares of Colliers International Group in a research report on Tuesday, August 8th. Finally, Zacks Investment Research downgraded Colliers International Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $65.70.

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Colliers International Group 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.

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

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