Cohen & Steers Inc (NYSE:CNS) Shares Sold by Legal & General Group Plc
Legal & General Group Plc lowered its position in shares of Cohen & Steers Inc (NYSE:CNS) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,841 shares of the asset manager’s stock after selling 104 shares during the period. Legal & General Group Plc’s holdings in Cohen & Steers were worth $232,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Cohen & Steers by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 728,472 shares of the asset manager’s stock worth $29,117,000 after buying an additional 57,866 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cohen & Steers by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 552,254 shares of the asset manager’s stock worth $18,556,000 after buying an additional 51,958 shares during the period. Global Thematic Partners LLC acquired a new position in shares of Cohen & Steers during the first quarter worth approximately $21,726,000. State Street Corp raised its position in shares of Cohen & Steers by 8.5% in the fourth quarter. State Street Corp now owns 398,363 shares of the asset manager’s stock worth $13,382,000 after buying an additional 31,329 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Cohen & Steers by 2.5% in the first quarter. Gabelli Funds LLC now owns 165,600 shares of the asset manager’s stock worth $6,619,000 after buying an additional 4,000 shares during the period. 45.37% of the stock is currently owned by institutional investors.
Cohen & Steers Inc (CNS) traded down 0.13% on Friday, reaching $39.84. The company had a trading volume of 36,348 shares. Cohen & Steers Inc has a 12 month low of $33.16 and a 12 month high of $43.47. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 19.35 and a beta of 1.54. The company’s 50 day moving average price is $41.09 and its 200-day moving average price is $39.00.
Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Wednesday, July 19th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Cohen & Steers had a return on equity of 33.17% and a net margin of 26.34%. The business had revenue of $92.80 million for the quarter, compared to analyst estimates of $92.52 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Cohen & Steers Inc will post $2.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 1st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, August 30th. Cohen & Steers’s dividend payout ratio (DPR) is presently 54.37%.
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CNS has been the topic of a number of research analyst reports. Zacks Investment Research raised Cohen & Steers from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, May 9th. BidaskClub raised Cohen & Steers from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.50.
Cohen & Steers Company Profile
Cohen & Steers, Inc (CNS) is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors.
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