Jupiter Topco LLC Acquires New Stake in Cohen & Steers Inc $CNS

Jupiter Topco LLC bought a new position in shares of Cohen & Steers Inc (NYSE:CNS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,391 shares of the asset manager’s stock, valued at approximately $943,000.

Other institutional investors have also added to or reduced their stakes in the company. Gabelli Funds LLC raised its stake in Cohen & Steers by 38.0% in the first quarter. Gabelli Funds LLC now owns 190,395 shares of the asset manager’s stock valued at $11,909,000 after purchasing an additional 52,400 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Cohen & Steers in the 2nd quarter worth approximately $1,137,000. BlackRock Inc. bought a new position in shares of Cohen & Steers in the 2nd quarter worth $343,390,000. Ieq Capital LLC bought a new position in shares of Cohen & Steers in the 2nd quarter worth $2,671,000. Finally, Legal & General Group Plc purchased a new stake in shares of Cohen & Steers during the 2nd quarter valued at $5,612,000. 51.47% of the stock is currently owned by institutional investors.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the transaction, the chief accounting officer owned 22,146 shares in the company, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Noonan sold 4,360 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the transaction, the executive vice president directly owned 28,682 shares of the company’s stock, valued at $2,217,979.06. This represents a 13.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 45.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CNS has been the subject of a number of recent research reports. Evercore restated an “outperform” rating and issued a $88.00 target price on shares of Cohen & Steers in a research report on Monday, August 10th. Weiss Ratings raised shares of Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $78.00.

Cohen & Steers Stock Performance

CNS opened at $79.96 on Friday. Cohen & Steers Inc has a 52-week low of $58.39 and a 52-week high of $86.56. The stock has a market capitalization of $4.11 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. The stock’s 50 day moving average price is $81.00 and its 200-day moving average price is $72.90.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results 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 analysts’ expectations of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The business’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Research analysts forecast that Cohen & Steers Inc will post 3.53 EPS for the current fiscal year.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were given a dividend of $0.67 per share. The ex-dividend date was Monday, August 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Cohen & Steers’s payout ratio is currently 82.21%.

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).