Erste Asset Management GmbH Takes $1.78 Million Position in Colliers International Group Inc. (NASDAQ:CIGI)

Erste Asset Management GmbH acquired a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,000 shares of the financial services provider’s stock, valued at approximately $1,781,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. boosted its stake in Colliers International Group by 26.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 124 shares during the period. King Luther Capital Management Corp lifted its stake in Colliers International Group by 1.2% in the third quarter. King Luther Capital Management Corp now owns 14,639 shares of the financial services provider’s stock valued at $2,222,000 after buying an additional 178 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Colliers International Group by 2.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,055 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 238 shares during the period. Whittier Trust Co. grew its position in shares of Colliers International Group by 8.4% during the third quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 277 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Colliers International Group by 3.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,346 shares of the financial services provider’s stock valued at $1,420,000 after purchasing an additional 291 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $152.54 on Wednesday. The company has a market capitalization of $7.49 billion, a PE ratio of 48.58 and a beta of 1.47. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day moving average of $149.96 and a 200-day moving average of $135.14. Colliers International Group Inc. has a one year low of $101.01 and a one year high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. As a group, equities analysts anticipate that Colliers International Group Inc. will post 5.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. StockNews.com downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. National Bank Financial upgraded Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets upped their price objective on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, Scotiabank increased their price objective on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $160.42.

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.