SG Americas Securities LLC Decreases Stock Holdings in Cohen & Steers Inc $CNS

SG Americas Securities LLC lowered its stake in Cohen & Steers Inc (NYSE:CNS) by 67.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,706 shares of the asset manager’s stock after selling 11,788 shares during the quarter. SG Americas Securities LLC’s holdings in Cohen & Steers were worth $357,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CNS. Goldman Sachs Group Inc. lifted its holdings in Cohen & Steers by 215.6% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in Cohen & Steers during the 4th quarter worth approximately $30,232,000. Millennium Management LLC increased its stake in Cohen & Steers by 385.6% during the 4th 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. Wasatch Advisors LP raised its position in shares of Cohen & Steers by 15.1% in 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. Finally, Freestone Grove Partners LP purchased a new position in shares of Cohen & Steers in the third quarter worth about $12,138,000. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Stock Performance

CNS opened at $77.01 on Friday. The stock has a market capitalization of $3.96 billion, a PE ratio of 25.42, a P/E/G ratio of 2.12 and a beta of 1.22. Cohen & Steers Inc has a one year low of $58.39 and a one year high of $80.48. The business’s 50 day moving average price is $73.87 and its 200 day moving average price is $68.25.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The company had revenue of $144.26 million for the quarter, compared to analysts’ expectations of $140.62 million. During the same period last year, the business earned $0.75 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cohen & Steers Inc will post 3.47 earnings per share for the current fiscal year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.68 annualized dividend and a yield of 3.5%. Cohen & Steers’s dividend payout ratio is presently 88.45%.

Analyst Upgrades and Downgrades

CNS has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. Evercore reissued an “outperform” rating and issued a $82.00 target price on shares of Cohen & Steers in a research note on Monday, June 8th. Finally, Zacks Research upgraded Cohen & Steers from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.00.

Insider Activity

In other news, EVP Daniel Noonan sold 4,360 shares of the 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 owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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).