UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Cohen & Steers Inc $CNS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Cohen & Steers Inc (NYSE:CNS) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,227 shares of the asset manager’s stock after selling 8,548 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cohen & Steers were worth $3,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gabelli Funds LLC grew its stake in shares of Cohen & Steers by 38.0% during the first quarter. Gabelli Funds LLC now owns 190,395 shares of the asset manager’s stock valued at $11,909,000 after buying an additional 52,400 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Cohen & Steers in the second quarter worth approximately $1,137,000. BlackRock Inc. bought a new stake in shares of Cohen & Steers during the 2nd quarter worth approximately $426,000. Legal & General Group Plc bought a new stake in shares of Cohen & Steers during the 2nd quarter worth approximately $5,612,000. Finally, Ieq Capital LLC purchased a new position in Cohen & Steers during the 2nd quarter valued at $2,671,000. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Price Performance

Shares of CNS stock opened at $76.68 on Friday. The company has a market capitalization of $3.94 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.88 and a beta of 1.21. The company’s 50-day simple moving average is $81.09 and its two-hundred day simple moving average is $73.27. Cohen & Steers Inc has a one year low of $58.39 and a one year 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 for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $151.84 million for the quarter, compared to the consensus estimate of $149.45 million. Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. On average, research analysts expect that Cohen & Steers Inc will post 3.53 EPS for the current fiscal year.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, August 10th. Cohen & Steers’s dividend payout ratio (DPR) is presently 82.21%.

Insiders Place Their Bets

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction 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. The trade was a 13.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $83.16, for a total value of $91,476.00. Following the completion of the sale, the chief accounting officer owned 22,146 shares of the company’s stock, valued at $1,841,661.36. This represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 45.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CNS shares. Weiss Ratings raised Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Evercore reiterated an “outperform” rating and set a $88.00 target price on shares of Cohen & Steers in a research report on Monday, August 10th. Two investment 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, Cohen & Steers currently has a consensus rating of “Hold” and an average target price of $78.00.

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).