Colliers International Group Inc. (NASDAQ:CIGI) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 102.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,239 shares of the financial services provider’s stock after purchasing an additional 47,195 shares during the quarter. Bank of America Corp DE owned approximately 0.19% of Colliers International Group worth $12,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Tobam increased its stake in Colliers International Group by 12.0% in the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 98 shares during the last quarter. Plato Investment Management Ltd increased its stake in Colliers International Group by 16.0% in the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 118 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Colliers International Group by 1.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,094 shares of the financial services provider’s stock valued at $1,100,000 after purchasing an additional 144 shares during the last quarter. Alliancebernstein L.P. increased its stake in Colliers International Group by 2.5% in the fourth quarter. Alliancebernstein L.P. now owns 7,474 shares of the financial services provider’s stock valued at $1,016,000 after purchasing an additional 180 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Colliers International Group by 1,752.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 298 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Price Performance

CIGI stock opened at $118.15 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. Colliers International Group Inc. has a 1 year low of $100.86 and a 1 year high of $156.96. The firm has a market cap of $5.82 billion, a P/E ratio of 37.04 and a beta of 1.38. The stock has a 50-day simple moving average of $119.17 and a 200-day simple moving average of $131.75.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.77 EPS. Colliers International Group’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 0.2%. Colliers International Group’s dividend payout ratio (DPR) is currently 10.53%.

Analysts Set New Price Targets

CIGI has been the subject of several analyst reports. National Bankshares dropped their target price on Colliers International Group from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. BMO Capital Markets cut their price objective on Colliers International Group from $177.00 to $172.00 and set a “market perform” rating on the stock in a report on Friday, February 7th. CIBC began coverage on Colliers International Group in a report on Tuesday, March 4th. They issued a “sector outperform” rating and a $160.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Colliers International Group in a report on Friday, February 28th. Finally, Colliers Securities set a $160.00 price objective on Colliers International Group in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $160.80.

About Colliers International Group

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.