IMC Chicago LLC bought a new stake in shares of Cohen & Steers Inc (NYSE:CNS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,058 shares of the asset manager’s stock, valued at approximately $537,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in shares of Cohen & Steers during the fourth quarter worth about $28,000. Public Employees Retirement System of Ohio acquired a new stake in Cohen & Steers in the 2nd quarter worth about $29,000. Geneos Wealth Management Inc. boosted its holdings in Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after buying an additional 297 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Cohen & Steers during the 4th quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Cohen & Steers by 110.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock worth $36,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CNS. Weiss Ratings upgraded 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 target on shares of Cohen & Steers in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.00.
Insiders Place Their Bets
In related news, EVP Daniel Noonan sold 4,360 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief accounting officer directly owned 22,146 shares in the company, valued at $1,841,661.36. The trade was a 4.73% 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 Stock Performance
CNS stock opened at $82.84 on Friday. The firm has a market cap of $4.26 billion, a PE ratio of 25.41, a PEG ratio of 2.02 and a beta of 1.21. The firm’s 50 day moving average price is $80.73 and its 200-day moving average price is $72.44. Cohen & Steers Inc has a one year low of $58.39 and a one year high of $86.56.
Cohen & Steers (NYSE:CNS – Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $151.84 million during the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. Equities research analysts predict that Cohen & Steers Inc will post 3.53 EPS for the current fiscal year.
Cohen & Steers Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, August 10th. Cohen & Steers’s dividend payout ratio is 82.21%.
About Cohen & Steers
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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