Todays Report: Today, PNC Financial Services Group Inc. Increases Stake in Colliers International Group Inc. (CIGI)

Today, PNC Financial Services Group Inc. Increases Stake in Colliers International Group Inc. (CIGI)

PNC Financial Services Group Inc. raised its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIG) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 759,782 shares of the company’s stock after buying an additional 25,168 shares during the period. PNC Financial Services Group Inc. owned about 1.97% of Colliers International Group worth $31,964,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in Colliers International Group by 141.9% in the second quarter. Acrospire Investment Management LLC now owns 3,594 shares of the company’s stock valued at $123,000 after buying an additional 2,108 shares in the last quarter. Legal & General Group Plc increased its stake in Colliers International Group by 57.4% in the second quarter. Legal & General Group Plc now owns 4,389 shares of the company’s stock valued at $149,000 after buying an additional 1,600 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Colliers International Group during the second quarter valued at about $214,000. Parametric Portfolio Associates LLC acquired a new stake in Colliers International Group during the second quarter valued at about $214,000. Finally, A.R.T. Advisors LLC acquired a new stake in Colliers International Group during the second quarter valued at about $262,000. Institutional investors own 64.18% of the company’s stock.

Colliers International Group Inc. (NASDAQ:CIGI) traded up 0.28% during mid-day trading on Friday, reaching $35.85. 6,813 shares of the company traded hands. Colliers International Group Inc. has a 52-week low of $30.76 and a 52-week high of $46.54. The company has a market capitalization of $1.38 billion, a P/E ratio of 23.63 and a beta of 1.55. The stock has a 50 day moving average price of $38.18 and a 200-day moving average price of $39.31.

Colliers International Group (NASDAQ:CIGI) last posted its quarterly earnings results on Friday, October 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by $0.15. The company earned $462.10 million during the quarter, compared to analysts’ expectations of $466.80 million. Colliers International Group had a return on equity of 52.27% and a net margin of 3.17%. Colliers International Group’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts expect that Colliers International Group Inc. will post $2.30 EPS for the current fiscal year.

CIGI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Colliers International Group from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, August 16th. Scotiabank restated an “outperform” rating and issued a $59.00 target price on shares of Colliers International Group in a research note on Tuesday, October 4th.

In related news, major shareholder Spruce House Partnership Lp purchased 133,800 shares of Colliers International Group stock in a transaction dated Tuesday, October 4th. The stock was acquired at an average cost of $42.05 per share, with a total value of $5,626,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.30% of the stock is currently owned by insiders.

Colliers International Group Company Profile

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