Wellington Management Group LLP Purchases New Position in Colliers International Group Inc. $CIGI

Wellington Management Group LLP purchased a new stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 291,944 shares of the financial services provider’s stock, valued at approximately $41,488,000.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Colliers International Group by 3.4% in the first quarter. Royal Bank of Canada now owns 3,970,524 shares of the financial services provider’s stock valued at $424,409,000 after acquiring an additional 129,144 shares during the last quarter. Durable Capital Partners LP increased its holdings in Colliers International Group by 2.0% during the 3rd quarter. Durable Capital Partners LP now owns 3,699,124 shares of the financial services provider’s stock valued at $577,840,000 after purchasing an additional 73,623 shares in the last quarter. Spruce House Investment Management LLC increased its holdings in Colliers International Group by 93.0% during the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock valued at $268,387,000 after purchasing an additional 1,209,867 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Colliers International Group in the 2nd quarter valued at $292,656,000. Finally, Vanguard Group Inc. raised its position in Colliers International Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,996,018 shares of the financial services provider’s stock valued at $293,379,000 after purchasing an additional 23,516 shares during the last quarter. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Up 3.1%

Shares of CIGI opened at $100.79 on Friday. The business’s fifty day moving average price is $100.50 and its two-hundred day moving average price is $102.98. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 48.00 and a beta of 1.23. Colliers International Group Inc. has a 52 week low of $88.38 and a 52 week high of $171.51. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CIGI shares. Scotia decreased their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 31st. Weiss Ratings raised Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. National Bank Financial upped their price target on shares of Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Scotiabank decreased their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.62.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.