BlackRock Inc. bought a new position in shares of Cohen & Steers Inc (NYSE:CNS – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,509,985 shares of the asset manager’s stock, valued at approximately $343,390,000. BlackRock Inc. owned approximately 0.09% of Cohen & Steers at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in shares of 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 purchasing an additional 526,096 shares during the last quarter. Norges Bank bought a new stake in shares of Cohen & Steers in the fourth quarter worth about $30,232,000. Bank of New York Mellon Corp purchased a new stake in shares of Cohen & Steers in the second quarter worth about $32,514,000. Millennium Management LLC lifted its position in shares of 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 buying an additional 348,452 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in Cohen & Steers by 15.1% during the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock valued at $185,790,000 after buying an additional 323,759 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.
Cohen & Steers Stock Up 0.0%
Shares of NYSE:CNS opened at $83.19 on Wednesday. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $86.56. The stock has a market capitalization of $4.28 billion, a P/E ratio of 25.52, a PEG ratio of 2.03 and a beta of 1.21. The firm has a fifty day simple moving average of $80.25 and a two-hundred day simple moving average of $72.07.
Cohen & Steers Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were given a dividend of $0.67 per share. The ex-dividend date was Monday, August 10th. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Cohen & Steers’s dividend payout ratio is 82.21%.
Analysts Set New Price Targets
Several equities analysts have weighed in on CNS shares. Evercore restated an “outperform” rating and set a $88.00 price target on shares of Cohen & Steers in a report on Monday, August 10th. Weiss Ratings raised Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $78.00.
Check Out Our Latest Report on CNS
Insider Buying and Selling
In other news, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total value of $91,476.00. Following the completion of the sale, the chief accounting officer directly owned 22,146 shares of the company’s stock, valued at $1,841,661.36. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the transaction, the executive vice president owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This trade represents a 13.20% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 45.40% of the company’s stock.
Cohen & Steers 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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