Northwest & Ethical Investments L.P. Increases Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Northwest & Ethical Investments L.P. raised its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,045 shares of the financial services provider’s stock after buying an additional 426 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Colliers International Group were worth $2,132,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CIGI. The Manufacturers Life Insurance Company increased its stake in shares of Colliers International Group by 47.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after purchasing an additional 326,453 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Colliers International Group by 91.3% in the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock worth $34,677,000 after purchasing an additional 148,265 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Colliers International Group by 55.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock worth $54,461,000 after purchasing an additional 128,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Colliers International Group by 114.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 161,800 shares of the financial services provider’s stock worth $24,552,000 after purchasing an additional 86,469 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of Colliers International Group in the 2nd quarter worth $6,970,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Stock Up 0.4 %

CIGI opened at $153.63 on Friday. The firm has a 50-day simple moving average of $149.78 and a two-hundred day simple moving average of $134.08. Colliers International Group Inc. has a 52 week low of $101.01 and a 52 week high of $156.96. The company has a market capitalization of $7.55 billion, a PE ratio of 48.93 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 (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 the consensus estimate of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $1.10 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Colliers International Group Inc. will post 5.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CIGI shares. Scotiabank upped their price objective on Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Stifel Nicolaus upped their target price 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. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Colliers International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.42.

Colliers International Group Company 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.