Principal Financial Group Inc. Sells 4,970 Shares of Cohen & Steers Inc (CNS)
Principal Financial Group Inc. trimmed its holdings in Cohen & Steers Inc (NYSE:CNS) by 19.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,127 shares of the asset manager’s stock after selling 4,970 shares during the period. Principal Financial Group Inc.’s holdings in Cohen & Steers were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in CNS. Acadian Asset Management LLC bought a new position in shares of Cohen & Steers during the second quarter valued at about $140,000. BNP Paribas Arbitrage SA lifted its position in shares of Cohen & Steers by 545.9% during the second quarter. BNP Paribas Arbitrage SA now owns 3,617 shares of the asset manager’s stock valued at $147,000 after purchasing an additional 3,057 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Cohen & Steers during the second quarter valued at about $183,000. SG Americas Securities LLC lifted its position in shares of Cohen & Steers by 85.7% during the second quarter. SG Americas Securities LLC now owns 4,806 shares of the asset manager’s stock valued at $195,000 after purchasing an additional 2,218 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Cohen & Steers by 29.4% during the second quarter. Prudential Financial Inc. now owns 6,640 shares of the asset manager’s stock valued at $269,000 after purchasing an additional 1,510 shares in the last quarter. 44.60% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Peter L. Rhein sold 4,729 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $44.60, for a total transaction of $210,913.40. Following the completion of the sale, the director now owns 26,271 shares in the company, valued at $1,171,686.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 52.90% of the company’s stock.
Cohen & Steers Inc (CNS) opened at $45.48 on Thursday. Cohen & Steers Inc has a 12-month low of $33.19 and a 12-month high of $47.29. The firm has a market cap of $2,116.02, a PE ratio of 22.84, a P/E/G ratio of 2.67 and a beta of 1.65.
Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Wednesday, October 18th. The asset manager reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Cohen & Steers had a net margin of 26.53% and a return on equity of 32.82%. The business had revenue of $96.40 million during the quarter, compared to the consensus estimate of $95.76 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. equities analysts anticipate that Cohen & Steers Inc will post 2.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 22nd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.12 dividend on an annualized basis and a yield of 2.46%. Cohen & Steers’s dividend payout ratio (DPR) is presently 53.85%.
A number of research firms recently weighed in on CNS. Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 price target on shares of Cohen & Steers in a research report on Friday, October 20th. Bank of America raised their price target on shares of Cohen & Steers from $35.00 to $38.00 and gave the company an “underperform” rating in a research report on Friday, October 20th. Credit Suisse Group raised their price target on shares of Cohen & Steers from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, October 20th. Finally, Zacks Investment Research raised shares of Cohen & Steers from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.60.
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Cohen & Steers 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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