Jupiter Topco LLC bought a new stake in shares of Cohen & Steers Inc (NYSE:CNS – Free Report) in the second quarter, Holdings Channel reports. The fund bought 12,391 shares of the asset manager’s stock, valued at approximately $943,000.
Several other large investors have also recently made changes to their positions in CNS. BlackRock Inc. bought a new stake in shares of Cohen & Steers in the 2nd quarter worth approximately $343,390,000. Goldman Sachs Group Inc. increased its position in Cohen & Steers by 215.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 770,149 shares of the asset manager’s stock valued at $48,350,000 after buying an additional 526,096 shares in the last quarter. Norges Bank bought a new position in Cohen & Steers during the 4th quarter valued at approximately $30,232,000. Bank of New York Mellon Corp purchased a new position in Cohen & Steers during the second quarter valued at $32,514,000. Finally, Millennium Management LLC boosted its holdings in Cohen & Steers by 385.6% in the fourth quarter. Millennium Management LLC now owns 438,826 shares of the asset manager’s stock worth $27,549,000 after acquiring an additional 348,452 shares in the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Cohen & Steers
In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the transaction, the chief accounting officer owned 22,146 shares in the company, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Noonan sold 4,360 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the sale, the executive vice president directly owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 45.40% of the company’s stock.
Cohen & Steers Stock Up 1.2%
Cohen & Steers (NYSE:CNS – Get Free Report) last issued its earnings results on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $151.84 million for the quarter, compared to analysts’ expectations of $149.45 million. Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share. As a group, equities analysts expect that Cohen & Steers Inc will post 3.53 earnings per share for the current fiscal year.
Cohen & Steers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Cohen & Steers’s dividend payout ratio (DPR) is 82.21%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Weiss Ratings raised Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $88.00 price objective on shares of Cohen & Steers in a research report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.00.
Check Out Our Latest Stock Analysis on Cohen & Steers
Cohen & Steers Company Profile
Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.
The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).
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