OMERS ADMINISTRATION Corp Invests $698,000 in Cohen & Steers Inc $CNS

Key Points

• OMERS ADMINISTRATION Corp acquired 8,700 shares of Cohen & Steers Inc (NYSE:CNS), valued at approximately $698,000, in the first quarter.
• Cohen & Steers reported earnings of $0.73 per share, missing expectations, while revenue increased by 11.8% compared to last year.
• The company announced a quarterly dividend of $0.62, with a dividend yield of 3.5% and a payout ratio of 78.73%.

OMERS ADMINISTRATION Corp purchased a new stake in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,700 shares of the asset manager's stock, valued at approximately $698,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNS. Congress Asset Management Co. raised its position in Cohen & Steers by 24.3% during the 1st quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock valued at $52,676,000 after purchasing an additional 128,315 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Cohen & Steers by 10,820.2% in the 1st quarter. GAMMA Investing LLC now owns 79,608 shares of the asset manager's stock worth $6,389,000 after acquiring an additional 78,879 shares in the last quarter. Nuveen LLC bought a new position in shares of Cohen & Steers in the 1st quarter worth approximately $6,193,000. Charles Schwab Investment Management Inc. raised its position in shares of Cohen & Steers by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the asset manager's stock worth $84,929,000 after acquiring an additional 53,876 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Cohen & Steers in the 4th quarter worth approximately $4,923,000. Institutional investors own 51.47% of the company's stock.

Cohen & Steers Price Performance

CNS stock traded down $0.22 on Friday, reaching $72.46. 143,153 shares of the company traded hands, compared to its average volume of 244,722. Cohen & Steers Inc has a one year low of $68.99 and a one year high of $110.67. The company has a market cap of $3.70 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 2.46 and a beta of 1.42. The firm has a fifty day simple moving average of $74.90 and a 200-day simple moving average of $77.21.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The company had revenue of $135.32 million for the quarter, compared to the consensus estimate of $134.59 million. During the same period last year, the business earned $0.68 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, August 11th. Cohen & Steers's dividend payout ratio (DPR) is currently 78.73%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America decreased their target price on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a research report on Monday, July 21st. Evercore ISI dropped their price objective on shares of Cohen & Steers from $79.00 to $77.00 and set an "outperform" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $81.67.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.