Alps Advisors Inc. bought a new stake in Cohen & Steers, Inc. (NYSE:CNS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,408 shares of the asset manager’s stock, valued at approximately $587,000.
A number of other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Cohen & Steers by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 872,342 shares of the asset manager’s stock valued at $35,470,000 after acquiring an additional 122,510 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Cohen & Steers in the first quarter valued at $26,012,000. Pwmco LLC acquired a new position in Cohen & Steers in the second quarter valued at $16,941,000. Eaton Vance Management boosted its holdings in Cohen & Steers by 18.7% in the first quarter. Eaton Vance Management now owns 383,357 shares of the asset manager’s stock valued at $15,587,000 after acquiring an additional 60,381 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Cohen & Steers by 7.1% during the first quarter. Gabelli Funds LLC now owns 235,800 shares of the asset manager’s stock worth $9,588,000 after purchasing an additional 15,600 shares in the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.
A number of research analysts have commented on the company. ValuEngine cut Cohen & Steers from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. Zacks Investment Research cut Cohen & Steers from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Credit Suisse Group reduced their price objective on Cohen & Steers from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, July 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $43.20.
Shares of CNS opened at $41.99 on Friday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 1.79 and a beta of 1.20. Cohen & Steers, Inc. has a 12 month low of $37.33 and a 12 month high of $47.83.
Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Wednesday, July 18th. The asset manager reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The company had revenue of $94.40 million for the quarter, compared to analyst estimates of $94.66 million. Cohen & Steers had a return on equity of 37.09% and a net margin of 26.79%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. sell-side analysts expect that Cohen & Steers, Inc. will post 2.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 30th. Shareholders of record on Thursday, August 16th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Wednesday, August 15th. Cohen & Steers’s dividend payout ratio is presently 63.77%.
About Cohen & Steers
Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.
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