Victory Capital Management Inc. increased its holdings in shares of Cohen & Steers Inc (NYSE:CNS) by 8.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,169 shares of the asset manager’s stock after acquiring an additional 1,433 shares during the period. Victory Capital Management Inc.’s holdings in Cohen & Steers were worth $777,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CNS. American Century Companies Inc. lifted its stake in shares of Cohen & Steers by 41.9% during the 1st 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cohen & Steers by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 728,472 shares of the asset manager’s stock worth $29,117,000 after acquiring an additional 57,866 shares during the last quarter. Swiss National Bank lifted its stake in shares of Cohen & Steers by 3.3% during the 1st quarter. Swiss National Bank now owns 34,200 shares of the asset manager’s stock worth $1,367,000 after acquiring an additional 1,100 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Cohen & Steers during the 1st quarter worth approximately $212,000. Finally, Karp Capital Management Corp bought a new stake in shares of Cohen & Steers during the 1st quarter worth approximately $249,000. 45.36% of the stock is owned by hedge funds and other institutional investors.
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In other news, insider John Todd Glickson sold 6,700 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $39.72, for a total value of $266,124.00. Following the sale, the insider now directly owns 36,738 shares in the company, valued at $1,459,233.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 52.90% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on CNS. Zacks Investment Research lowered Cohen & Steers from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub lowered Cohen & Steers from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Cohen & Steers has a consensus rating of “Hold” and an average target price of $44.50.
Cohen & Steers Inc (NYSE:CNS) opened at 37.55 on Friday. Cohen & Steers Inc has a 52-week low of $33.16 and a 52-week high of $43.22. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 18.24 and a beta of 1.55. The stock has a 50 day moving average price of $38.90 and a 200 day moving average price of $39.49.
Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Wednesday, July 19th. The asset manager reported $0.50 earnings per share (EPS) 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 return on equity of 33.17% and a net margin of 26.34%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, equities analysts expect that Cohen & Steers Inc will post $2.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 1st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Wednesday, August 30th. Cohen & Steers’s payout ratio is currently 54.37%.
About Cohen & Steers
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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