Legal & General Group Plc continued to hold its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,389 shares of the financial services provider’s stock at the end of the first quarter. Legal & General Group Plc’s holdings in Colliers International Group were worth $207,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Colliers International Group during the fourth quarter valued at about $14,040,000. Blair William & Co. IL increased its stake in Colliers International Group by 6.5% in the first quarter. Blair William & Co. IL now owns 17,502 shares of the financial services provider’s stock worth $858,000 after buying an additional 1,065 shares in the last quarter. Nationwide Fund Advisors bought a new stake in Colliers International Group during the first quarter worth about $2,918,000. O Shaughnessy Asset Management LLC bought a new stake in Colliers International Group during the first quarter worth about $1,880,000. Finally, Bank of Montreal Can increased its stake in Colliers International Group by 13.1% in the first quarter. Bank of Montreal Can now owns 199,358 shares of the financial services provider’s stock worth $9,410,000 after buying an additional 23,023 shares in the last quarter. 59.40% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Inc. (NASDAQ:CIGI) traded up 0.20% during mid-day trading on Friday, hitting $49.25. The company had a trading volume of 23,839 shares. The company’s 50 day moving average price is $54.67 and its 200-day moving average price is $49.83. The firm has a market capitalization of $1.91 billion, a PE ratio of 29.76 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.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, 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 stock buyback plan on Thursday, July 13th that permits the company to repurchase 2,700,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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A number of research firms recently issued reports on CIGI. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $75.00 target price (up previously from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. BidaskClub downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $58.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Colliers International Group in a research report on Wednesday, May 3rd. Finally, Sidoti downgraded Colliers International Group from a “buy” rating to a “neutral” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average 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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Institutional Ownership by Quarter for Colliers International Group (NASDAQ:CIGI)

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