Renaissance Technologies LLC Purchases 108,361 Shares of Colliers International Group Inc. $CIGI

Renaissance Technologies LLC increased its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 28.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 485,061 shares of the financial services provider’s stock after buying an additional 108,361 shares during the quarter. Renaissance Technologies LLC’s holdings in Colliers International Group were worth $51,848,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Durable Capital Partners LP lifted its stake in shares of Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock valued at $473,273,000 after acquiring an additional 652,744 shares during the last quarter. Norges Bank purchased a new position in shares of Colliers International Group during the fourth quarter valued at approximately $84,906,000. Bank of Montreal Can raised its holdings in Colliers International Group by 69.0% in the 4th quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock worth $158,274,000 after purchasing an additional 439,607 shares in the last quarter. Alberta Investment Management Corp bought a new position in Colliers International Group in the fourth quarter worth about $47,799,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Colliers International Group by 732.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 214,234 shares of the financial services provider’s stock worth $33,498,000 after acquiring an additional 188,508 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CIGI. Weiss Ratings cut shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Scotia dropped their price objective on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, April 15th. Royal Bank Of Canada cut their target price on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Raymond James Financial cut their price target on Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. Finally, National Bank Financial reduced their price objective on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.11.

Colliers International Group Stock Performance

NASDAQ CIGI opened at $97.49 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23. Colliers International Group Inc. has a twelve month low of $88.38 and a twelve month high of $171.51. The business has a 50-day moving average price of $96.00 and a 200-day moving average price of $110.49. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 60.18 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data 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 net margin of 1.45% and a return on equity of 20.31%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. As a group, equities research analysts predict that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group Announces Dividend

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

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.