Norges Bank Makes New Investment in Cohen & Steers Inc $CNS

Norges Bank bought a new position in Cohen & Steers Inc (NYSE:CNS) in the 4th quarter, Holdings Channel.com reports. The fund bought 481,557 shares of the asset manager’s stock, valued at approximately $30,232,000.

A number of other institutional investors and hedge funds have also modified their holdings of CNS. Geneos Wealth Management Inc. lifted its stake in shares of Cohen & Steers by 345.3% in the first 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. Hantz Financial Services Inc. raised its stake in Cohen & Steers by 754.9% during the 4th quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 536 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cohen & Steers by 459.2% in the 4th quarter. Farther Finance Advisors LLC now owns 699 shares of the asset manager’s stock valued at $44,000 after buying an additional 574 shares in the last quarter. Garner Asset Management Corp acquired a new position in shares of Cohen & Steers in the 4th quarter valued at $58,000. Finally, Tema Etfs LLC acquired a new position in shares of Cohen & Steers in the 4th quarter valued at $59,000. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNS. Zacks Research upgraded shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Evercore reissued an “outperform” rating and set a $82.00 price objective on shares of Cohen & Steers in a report on Monday. Finally, Weiss Ratings raised shares of Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.00.

Cohen & Steers Stock Performance

Shares of CNS stock opened at $77.23 on Wednesday. The company has a market capitalization of $3.97 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.25. The company’s 50 day moving average price is $68.82 and its two-hundred day moving average price is $66.00. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $78.81.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Thursday, April 16th. The asset manager reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03). The company had revenue of $144.26 million for the quarter, compared to analyst estimates of $140.62 million. Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. Analysts forecast that Cohen & Steers Inc will post 3.38 earnings per share for the current year.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a $0.67 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. Cohen & Steers’s dividend payout ratio (DPR) is 88.45%.

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).