Norges Bank Invests $84.91 Million in Colliers International Group Inc. $CIGI

Norges Bank purchased a new position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 577,640 shares of the financial services provider’s stock, valued at approximately $84,906,000.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Colliers International Group in the 3rd quarter valued at about $26,000. JPMorgan Chase & Co. acquired a new stake in Colliers International Group during the second quarter worth approximately $39,000. EverSource Wealth Advisors LLC grew its stake in Colliers International Group by 26.3% during the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 63 shares during the period. Tower Research Capital LLC TRC bought a new stake in Colliers International Group in the second quarter worth approximately $96,000. Finally, Smithfield Trust Co acquired a new position in Colliers International Group in the third quarter valued at approximately $117,000. 80.09% of the stock is owned by institutional investors.

Colliers International Group Trading Down 0.3%

Shares of Colliers International Group stock opened at $97.16 on Friday. The stock has a fifty day simple moving average of $103.22 and a 200 day simple moving average of $122.59. Colliers International Group Inc. has a 12-month low of $90.93 and a 12-month high of $171.51. The company has a market capitalization of $4.96 billion, a P/E ratio of 59.98 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.01). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.26 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. On average, sell-side analysts anticipate that Colliers International Group Inc. will post 6.39 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Colliers International Group’s dividend payout ratio is currently 18.52%.

Analysts Set New Price Targets

CIGI has been the topic of several recent analyst reports. Scotiabank dropped their price target on Colliers International Group from $185.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. BMO Capital Markets dropped their price target on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. National Bank Financial dropped their price target on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada dropped their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Finally, Raymond James Financial dropped their price target on Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.89.

About Colliers International Group

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.