Bank of New York Mellon Corp cut its stake in shares of Cohen & Steers Inc (NYSE:CNS) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 716,199 shares of the asset manager’s stock after selling 12,273 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.55% of Cohen & Steers worth $29,035,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of CNS. Nicholas Company Inc. bought a new position in Cohen & Steers during the first quarter worth $15,900,000. Kennedy Capital Management Inc. bought a new position in Cohen & Steers during the first quarter worth $9,041,000. Vanguard Group Inc. boosted its stake in Cohen & Steers by 5.2% during the first quarter. Vanguard Group Inc. now owns 1,699,085 shares of the asset manager’s stock worth $67,912,000 after acquiring an additional 83,294 shares in the last quarter. American Century Companies Inc. boosted its stake in Cohen & Steers by 41.9% during the first quarter. American Century Companies Inc. now owns 138,298 shares of the asset manager’s stock worth $5,528,000 after acquiring an additional 40,817 shares in the last quarter. Finally, Menta Capital LLC boosted its stake in Cohen & Steers by 33.5% during the first quarter. Menta Capital LLC now owns 113,754 shares of the asset manager’s stock worth $4,547,000 after acquiring an additional 28,536 shares in the last quarter. 45.36% of the stock is currently owned by institutional investors and hedge funds.
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Cohen & Steers Inc (NYSE:CNS) opened at 37.80 on Tuesday. Cohen & Steers Inc has a 52 week low of $33.16 and a 52 week high of $43.22. The company’s 50-day moving average is $39.42 and its 200 day moving average is $39.52. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.36 and a beta of 1.55.
Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Wednesday, July 19th. The asset manager reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. The business had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $92.52 million. Cohen & Steers had a net margin of 26.34% and a return on equity of 33.17%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, analysts forecast that Cohen & Steers Inc will post $2.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, September 1st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.96%. The ex-dividend date is Wednesday, August 30th. Cohen & Steers’s dividend payout ratio (DPR) is currently 54.37%.
Several research analysts recently issued reports on the stock. BidaskClub lowered shares of Cohen & Steers from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research lowered shares of Cohen & Steers from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Cohen & Steers has an average rating of “Hold” and an average target price of $44.50.
In related news, insider John Todd Glickson sold 6,700 shares of Cohen & Steers stock in a transaction on Monday, August 14th. The shares were sold at an average price of $39.72, for a total value of $266,124.00. Following the sale, the insider now owns 36,738 shares in the company, valued at $1,459,233.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 52.90% of the company’s stock.
Cohen & Steers Profile
Cohen & Steers, Inc (CNS) is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors.
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