Polen Capital Management LLC Takes Position in Colliers International Group Inc. (NASDAQ:CIGI)

Polen Capital Management LLC bought a new position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,226 shares of the financial services provider’s stock, valued at approximately $1,118,000.

Several other hedge funds and other institutional investors have also modified their holdings of CIGI. Franklin Resources Inc. increased its position in Colliers International Group by 100.8% in the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock worth $102,261,000 after purchasing an additional 340,691 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Colliers International Group by 3.4% during the 4th quarter. Alberta Investment Management Corp now owns 626,422 shares of the financial services provider’s stock valued at $85,143,000 after buying an additional 20,794 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Colliers International Group in the 3rd quarter valued at approximately $69,920,000. Loomis Sayles & Co. L P increased its holdings in Colliers International Group by 55.5% in the third quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock worth $54,461,000 after buying an additional 128,005 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in Colliers International Group by 3.9% during the fourth quarter. Cibc World Market Inc. now owns 219,317 shares of the financial services provider’s stock valued at $29,814,000 after acquiring an additional 8,148 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CIGI has been the subject of a number of recent research reports. StockNews.com upgraded shares of Colliers International Group from a “hold” rating to a “buy” rating in a report on Friday, March 7th. BMO Capital Markets dropped their target price on shares of Colliers International Group from $177.00 to $172.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. started coverage on Colliers International Group in a report on Monday, December 16th. They issued a “neutral” rating and a $167.00 price target for the company. The Goldman Sachs Group began coverage on shares of Colliers International Group in a report on Friday, December 6th. They set a “neutral” rating and a $170.00 price objective for the company. Finally, Scotiabank cut their target price on Colliers International Group from $170.00 to $166.00 and set a “sector outperform” rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Colliers International Group presently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

Colliers International Group Stock Performance

Colliers International Group stock opened at $122.75 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 38.48 and a beta of 1.58. Colliers International Group Inc. has a 12-month low of $101.01 and a 12-month high of $156.96. The stock has a 50-day simple moving average of $132.79 and a 200 day simple moving average of $141.79.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.87 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. On average, research analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

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.