Vestcor Inc Purchases New Position in Colliers International Group Inc. $CIGI

Vestcor Inc purchased a new stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,000 shares of the financial services provider’s stock, valued at approximately $2,205,000.

A number of other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 valued at $40,000 after acquiring an additional 63 shares during the last quarter. Cooper Investors PTY Ltd. lifted its holdings in shares of Colliers International Group by 0.4% in the 4th quarter. Cooper Investors PTY Ltd. now owns 30,217 shares of the financial services provider’s stock valued at $4,442,000 after acquiring an additional 114 shares during the last quarter. Versor Investments LP lifted its holdings in shares of Colliers International Group by 6.2% in the 4th quarter. Versor Investments LP now owns 2,415 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 142 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Colliers International Group in the 3rd quarter valued at about $26,000. Finally, Marshall Wace LLP lifted its stake in Colliers International Group by 7.4% in the second quarter. Marshall Wace LLP now owns 2,900 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Stock Performance

CIGI stock opened at $97.16 on Monday. The company has a market capitalization of $4.96 billion, a PE ratio of 59.98 and a beta of 1.26. Colliers International Group Inc. has a 12 month low of $90.93 and a 12 month high of $171.51. The firm’s 50-day moving average is $103.22 and its 200 day moving average is $122.47. 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 quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 EPS 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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts anticipate that Colliers International Group Inc. will post 6.39 EPS for the current year.

Colliers International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid 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 is Tuesday, June 30th. Colliers International Group’s payout ratio is currently 18.52%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CIGI. Zacks Research raised shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Royal Bank Of Canada decreased their price objective on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Stifel Nicolaus set a $175.00 price objective on shares of Colliers International Group in a research note on Friday, March 13th. Finally, BMO Capital Markets decreased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.89.

Colliers International Group 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.