Addenda Capital Inc. Increases Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Addenda Capital Inc. lifted its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 20.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 153,625 shares of the financial services provider’s stock after purchasing an additional 26,263 shares during the period. Addenda Capital Inc. owned 0.31% of Colliers International Group worth $17,152,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CIGI. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Colliers International Group by 575.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 207 shares during the period. PNC Financial Services Group Inc. raised its holdings in Colliers International Group by 252.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 316 shares in the last quarter. Security National Bank purchased a new stake in shares of Colliers International Group during the fourth quarter valued at about $70,000. Central Pacific Bank Trust Division bought a new stake in shares of Colliers International Group in the 1st quarter valued at about $118,000. Finally, Tobam grew its position in shares of Colliers International Group by 185.5% in the 1st quarter. Tobam now owns 1,302 shares of the financial services provider’s stock worth $159,000 after buying an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CIGI shares. Scotiabank raised their price objective on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a research 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 report on Friday, August 2nd. BMO Capital Markets upped their price objective on shares of Colliers International Group from $140.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. National Bankshares increased their price objective on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price target on shares of Colliers International Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.83.

Colliers International Group Stock Performance

Colliers International Group stock traded down $0.04 during trading hours on Wednesday, hitting $135.97. 83,985 shares of the stock traded hands, compared to its average volume of 118,808. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50 day moving average price is $121.55 and its 200-day moving average price is $117.92. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 66.33 and a beta of 1.50. Colliers International Group Inc. has a 1 year low of $83.38 and a 1 year high of $140.52.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 25.35%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.21 EPS. As a group, equities analysts expect that Colliers International Group Inc. will post 5.51 EPS for the current fiscal year.

Colliers International Group 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.