Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Colliers International Group Inc. (NASDAQ:CIGI)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 114.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,800 shares of the financial services provider’s stock after buying an additional 86,469 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.33% of Colliers International Group worth $24,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in CIGI. Whittier Trust Co. of Nevada Inc. raised its position in shares of Colliers International Group by 26.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 124 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Colliers International Group by 2.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,055 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 238 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Colliers International Group by 8.4% during the 3rd quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock worth $540,000 after buying an additional 277 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after buying an additional 304 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of Colliers International Group in the 3rd quarter valued at $112,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIGI has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. National Bankshares boosted their target price on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price target on 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 Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $150.00 to $160.00 in a research note on Friday, August 2nd. Finally, BMO Capital Markets raised their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Two equities research 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, Colliers International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.42.

Colliers International Group Stock Down 1.0 %

CIGI opened at $142.04 on Thursday. Colliers International Group Inc. has a 52 week low of $101.01 and a 52 week high of $156.96. The business has a 50 day moving average price of $149.29 and a two-hundred day moving average price of $132.63. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42. The company has a market cap of $6.98 billion, a PE ratio of 45.24 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company earned $1.10 EPS. Colliers International Group’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Colliers International Group Inc. will post 5.44 EPS 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.