Zurcher Kantonalbank Increases Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Zurcher Kantonalbank Zurich Cantonalbank has increased its stake in Colliers International Group Inc. (NASDAQ:CIGI) by 3.2% during the third quarter, as reported by HoldingsChannel.com. The firm now owns 9,346 shares after acquiring an additional 291 shares during the period. According to its latest filing with the Securities and Exchange Commission, the value of Zurcher Kantonalbank's holdings in Colliers has reached approximately $1,420,000.

In addition to Zurcher Kantonalbank, several other institutional investors have also adjusted their positions in Colliers International Group. The Manufacturers Life Insurance Company raised its stake by a notable 47.6% in the second quarter, now holding 1,011,898 shares worth $112,834,000 after an acquisition of 326,453 shares. Victory Capital Management Inc. also increased its holdings by 5.9%, totaling 743,150 shares valued at $82,973,000 after buying an additional 41,225 shares. Bank of Montreal Can added to its position with a 0.9% increase, bringing its total to 689,358 shares worth $76,703,000, while Vulcan Value Partners LLC enhanced its stake by 4.6%, now holding 454,181 shares valued at $50,767,000 after acquiring 20,150 more shares. Loomis Sayles & Co. LP boosted its holding by 55.5%, now owning 358,748 shares worth $54,461,000 after purchasing 128,005 shares. This shows that institutional investors own about 80.09% of Colliers International Group’s stock.

Recent Analyst Ratings for CIGI

Colliers International Group (CIGI) has faced several updates from analysts recently. BMO Capital Markets raised its price target on the stock from $163.00 to $164.00, rating it as “outperform” on September 13th. StockNews.com downgraded the stock from “buy” to “hold” in a report issued on October 8th. Conversely, National Bank Financial upgraded Colliers from “hold” to “strong-buy” on November 5th. Scotiabank increased its price target from $155.00 to $167.50 and recommended the stock as a “sector outperform” on November 6th. Royal Bank of Canada raised its price target for Colliers from $160.00 to $174.00, also rating it as “outperform” on October 21st. Currently, the consensus rating stands at “Moderate Buy” with a target price of $160.42, with two analysts recommending a hold, five suggesting a buy, and one indicating a strong buy.

Colliers' Stock Performance

Current Stock Status

The stock of Colliers International Group was reported down 1.8%, with shares opening at $152.03. The company has a market cap of $7.47 billion and a PE ratio of 48.42. Other financial metrics include a debt-to-equity ratio of 1.42 and current/quick ratios both at 1.17. Over the past 12 months, the stock reached a low of $101.01 and a high of $156.96, with 50-day and 200-day simple moving averages at $150.08 and $135.40, respectively.

The company announced its earnings results on November 5th, reporting earnings per share of $1.32 for the quarter, which was below the analysts' expected $1.49. Revenue for the quarter was $1.18 billion, slightly higher than analysts' estimated $1.17 billion, showing an 11.7% year-over-year increase. Analysts predict that Colliers will achieve $5.44 earnings per share for the current fiscal year.

Dividend Information

Recently, Colliers International Group announced a semi-annual dividend of $0.15 per share, scheduled for payment on January 14th. Shareholders on record as of December 31st will be eligible for this dividend, which provides a yield of 0.2%. Currently, the company's dividend payout ratio is 9.55%, reflecting a stable dividend policy.

Overview of Colliers International Group

Colliers International Group Inc. specializes in providing commercial real estate professional and investment management services to a broad range of clients located across the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Their services encompass outsourcing and advisory functions, including project management, property management, valuation, and loan servicing for commercial real estate clients.

Colliers, Investors, Holdings