Royal Bank of Canada Purchases 129,144 Shares of Colliers International Group Inc. $CIGI

Royal Bank of Canada lifted its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,970,524 shares of the financial services provider’s stock after purchasing an additional 129,144 shares during the period. Royal Bank of Canada owned 7.77% of Colliers International Group worth $424,409,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Colliers International Group in the 3rd quarter worth approximately $26,000. Arax Advisory Partners increased its position in Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 126 shares during the period. Kestra Advisory Services LLC bought a new stake in Colliers International Group in the 4th quarter valued at $32,000. JPMorgan Chase & Co. bought a new stake in Colliers International Group in the 2nd quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC grew its position in Colliers International Group by 26.3% in the 2nd 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 last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Performance

Shares of NASDAQ:CIGI opened at $103.91 on Wednesday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 64.14 and a beta of 1.26. The business’s fifty day moving average price is $96.42 and its two-hundred day moving average price is $109.88. Colliers International Group Inc. has a fifty-two week low of $88.38 and a fifty-two week high of $171.51. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts predict that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a $0.15 dividend. 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 payout ratio is presently 18.52%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CIGI shares. BMO Capital Markets reduced their target price on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Zacks Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Royal Bank Of Canada reduced their target price on 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. National Bank Financial lowered their price target on shares of Colliers International Group from $143.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Weiss Ratings cut shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $159.11.

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.