Colliers International Group Inc. (NASDAQ:CIGI) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 93.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 121,801 shares of the financial services provider’s stock after buying an additional 58,858 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Colliers International Group were worth $18,491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CIGI. Vanguard Group Inc. lifted its holdings in Colliers International Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock valued at $159,016,000 after acquiring an additional 5,152 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Colliers International Group by 7.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 11,751 shares of the financial services provider’s stock valued at $1,435,000 after purchasing an additional 770 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Colliers International Group in the 1st quarter valued at $205,000. Addenda Capital Inc. grew its position in Colliers International Group by 20.6% during the second quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider’s stock valued at $17,152,000 after buying an additional 26,263 shares during the period. Finally, Blue Trust Inc. increased its holdings in Colliers International Group by 3,377.8% in the second 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. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

Colliers International Group stock opened at $154.17 on Tuesday. The company has a fifty day simple moving average of $149.28 and a 200-day simple moving average of $133.26. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 49.10 and a beta of 1.50. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42. Colliers International Group Inc. has a 52-week low of $101.01 and a 52-week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 EPS. On average, equities analysts anticipate that Colliers International Group Inc. will post 5.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CIGI. Royal Bank of Canada raised their target price on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. 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 report on Friday, August 2nd. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Stifel Nicolaus boosted their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.42.

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.