Colliers International Group Inc. $CIGI Shares Newly Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC purchased a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 464,391 shares of the financial services provider’s stock, valued at approximately $41,702,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Pictet Asset Management Holding SA raised its position in shares of Colliers International Group by 1.7% in the third quarter. Pictet Asset Management Holding SA now owns 8,117 shares of the financial services provider’s stock valued at $729,000 after buying an additional 137 shares during the last quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd boosted its position in Colliers International Group by 5.3% during the third quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 57,665 shares of the financial services provider’s stock worth $5,178,000 after acquiring an additional 2,900 shares during the last quarter. Compass Ion Advisors LLC boosted its position in Colliers International Group by 4.4% during the third quarter. Compass Ion Advisors LLC now owns 2,747 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 116 shares during the last quarter. Louisbourg Investments Inc. boosted its position in Colliers International Group by 9.1% during the third quarter. Louisbourg Investments Inc. now owns 94,813 shares of the financial services provider’s stock worth $8,525,000 after acquiring an additional 7,881 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Colliers International Group in the 3rd quarter worth approximately $599,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Trading Up 1.5%

Shares of CIGI stock traded up $1.36 during trading hours on Friday, hitting $90.01. 99,321 shares of the company were exchanged, compared to its average volume of 230,125. The firm has a market cap of $4.60 billion, a PE ratio of 63.39 and a beta of 1.18. Colliers International Group Inc. has a 1 year low of $83.21 and a 1 year high of $150.78. The company has a quick ratio of 1.19, a current ratio of 1.18 and a debt-to-equity ratio of 1.55. The firm has a fifty day moving average of $92.06 and a 200 day moving average of $102.28.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Wednesday, November 4th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.03. Colliers International Group had a net margin of 1.18% and a return on equity of 21.28%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts expect that Colliers International Group Inc. will post 6.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

CIGI has been the subject of several analyst reports. Stifel Nicolaus cut their price target on Colliers International Group from $155.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Royal Bank Of Canada reduced their price target on Colliers International Group from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Raymond James Financial decreased their price objective on Colliers International Group from $160.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 5th. Scotiabank lowered their price objective on Colliers International Group from $145.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 28th. Finally, Scotia dropped their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.71.

Colliers International Group Profile

Colliers International Group Inc. is a global professional services and investment management company focused on commercial real estate and the built environment. Its services include property leasing and sales, property and facilities management, valuation and advisory, and real estate project management. The company also provides engineering and consulting services for infrastructure, buildings, and related projects, along with investment management for real estate and other property-related strategies.