Clearbridge Investments LLC Takes Position in Colliers International Group Inc. (NASDAQ:CIGI)

Clearbridge Investments LLC purchased a new position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 224,638 shares of the financial services provider’s stock, valued at approximately $28,421,000. Clearbridge Investments LLC owned approximately 0.49% of Colliers International Group at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CIGI. Tobam bought a new stake in Colliers International Group in the fourth quarter worth about $58,000. Avantax Advisory Services Inc. purchased a new stake in Colliers International Group in the fourth quarter worth $203,000. Cornerstone Investment Partners LLC bought a new stake in shares of Colliers International Group during the fourth quarter worth $252,000. Bank of Nova Scotia boosted its stake in shares of Colliers International Group by 7.2% during the third quarter. Bank of Nova Scotia now owns 2,796 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 187 shares during the period. Finally, Shell Asset Management Co. increased its stake in Colliers International Group by 30.4% in the 3rd quarter. Shell Asset Management Co. now owns 3,431 shares of the financial services provider’s stock worth $328,000 after buying an additional 800 shares during the period. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Performance

Shares of NASDAQ CIGI opened at $110.63 on Friday. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 53.97 and a beta of 1.50. The company has a 50 day simple moving average of $114.18 and a two-hundred day simple moving average of $114.64. Colliers International Group Inc. has a 12 month low of $83.38 and a 12 month high of $131.05. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.15.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.20). Colliers International Group had a net margin of 2.25% and a return on equity of 26.28%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.03 million. As a group, analysts predict that Colliers International Group Inc. will post 5.52 earnings per share for the current year.

Colliers International Group Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.15 dividend. The ex-dividend date is Friday, June 28th. This represents a dividend yield of 0.3%. Colliers International Group’s dividend payout ratio (DPR) is currently 14.63%.

Analyst Ratings Changes

CIGI has been the topic of a number of research reports. Royal Bank of Canada reduced their target price on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Scotiabank reduced their price objective on shares of Colliers International Group from $140.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 17th. Stifel Nicolaus increased their price objective on Colliers International Group from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Raymond James boosted their target price on Colliers International Group from $140.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets increased their price target on Colliers International Group from $129.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Colliers International Group currently has an average rating of “Moderate Buy” and a consensus price target of $137.57.

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.