Bank of New York Mellon Corp Has $28.50 Million Holdings in Cohen & Steers Inc $CNS

Bank of New York Mellon Corp lessened its holdings in shares of Cohen & Steers Inc (NYSE:CNS) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,259 shares of the asset manager’s stock after selling 26,392 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cohen & Steers were worth $28,502,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. purchased a new position in Cohen & Steers during the first quarter valued at approximately $1,576,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Cohen & Steers during the 1st quarter valued at $584,000. Royce & Associates LP grew its holdings in shares of Cohen & Steers by 65.0% during the 1st quarter. Royce & Associates LP now owns 15,886 shares of the asset manager’s stock valued at $1,275,000 after acquiring an additional 6,258 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Cohen & Steers by 184.3% in the first quarter. XTX Topco Ltd now owns 9,281 shares of the asset manager’s stock worth $745,000 after acquiring an additional 6,016 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Cohen & Steers during the first quarter worth $707,000. 51.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America boosted their target price on Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Evercore ISI lifted their price target on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $72.50.

Cohen & Steers Price Performance

NYSE CNS opened at $64.72 on Friday. Cohen & Steers Inc has a fifty-two week low of $64.29 and a fifty-two week high of $107.31. The stock’s 50-day moving average is $68.13 and its two-hundred day moving average is $73.35. The firm has a market cap of $3.30 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Thursday, October 16th. The asset manager reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $140.94 million for the quarter, compared to analyst estimates of $138.84 million. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, November 10th. Cohen & Steers’s dividend payout ratio (DPR) is currently 77.74%.

About Cohen & Steers

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.