Legal & General Group Plc Invests $5.61 Million in Cohen & Steers Inc $CNS

Legal & General Group Plc purchased a new stake in Cohen & Steers Inc (NYSE:CNS) in the second quarter, HoldingsChannel reports. The firm purchased 73,709 shares of the asset manager’s stock, valued at approximately $5,612,000.

Other institutional investors have also recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in Cohen & Steers during the 4th quarter worth $28,000. Geneos Wealth Management Inc. increased its stake in shares of Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after buying an additional 297 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Cohen & Steers during the fourth quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its position in shares of Cohen & Steers by 110.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock worth $36,000 after acquiring an additional 299 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Cohen & Steers by 754.9% during the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 536 shares during the period. Institutional investors own 51.47% of the company’s stock.

Insider Transactions at Cohen & Steers

In other news, EVP Daniel Noonan sold 4,360 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the sale, the chief accounting officer owned 22,146 shares in the company, valued at $1,841,661.36. This represents a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 45.40% of the stock is currently owned by company insiders.

Cohen & Steers Stock Performance

Shares of Cohen & Steers stock opened at $78.89 on Friday. The firm has a fifty day moving average of $80.97 and a two-hundred day moving average of $72.85. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.88 and a beta of 1.21. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $86.56.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The company had revenue of $151.84 million during the quarter, compared to the consensus estimate of $149.45 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts forecast that Cohen & Steers Inc will post 3.53 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

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

Analyst Upgrades and Downgrades

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

About Cohen & Steers

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).