Colliers International Group Inc. $CIGI Shares Acquired by Canoe Financial LP

Canoe Financial LP boosted its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,180 shares of the financial services provider’s stock after purchasing an additional 3,901 shares during the period. Canoe Financial LP owned approximately 0.08% of Colliers International Group worth $6,283,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CIGI. Royal Bank of Canada lifted its stake in shares of Colliers International Group by 1.4% during the first quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider’s stock worth $462,816,000 after purchasing an additional 52,414 shares in the last quarter. Durable Capital Partners LP raised its holdings in shares of Colliers International Group by 22.0% during the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock valued at $473,273,000 after buying an additional 652,744 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Colliers International Group by 21.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider’s stock valued at $117,619,000 after buying an additional 158,668 shares during the period. Bank of Montreal Can lifted its position in Colliers International Group by 0.4% during the 2nd quarter. Bank of Montreal Can now owns 686,130 shares of the financial services provider’s stock worth $89,830,000 after acquiring an additional 2,943 shares in the last quarter. Finally, Norges Bank purchased a new position in Colliers International Group in the 2nd quarter worth approximately $74,820,000. 80.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CIGI has been the topic of a number of analyst reports. National Bankshares lifted their price objective on shares of Colliers International Group from $181.00 to $185.00 in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colliers International Group in a report on Wednesday, October 8th. Stifel Nicolaus lifted their price target on shares of Colliers International Group from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Scotiabank boosted their price objective on shares of Colliers International Group from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Finally, CIBC raised their target price on Colliers International Group from $175.00 to $179.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Colliers International Group currently has an average rating of “Moderate Buy” and an average price target of $176.70.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $149.95 on Friday. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 65.48 and a beta of 1.39. Colliers International Group Inc. has a one year low of $100.86 and a one year high of $171.51. The company’s 50-day simple moving average is $149.56 and its 200-day simple moving average is $149.47. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14.

Colliers International Group Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be given a $0.15 dividend. The ex-dividend date is Wednesday, December 31st. This represents a dividend yield of 21.0%. Colliers International Group’s dividend payout ratio (DPR) is presently 13.10%.

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.