Cohen & Steers Inc $CNS Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in Cohen & Steers Inc by 11.9%, owning 26,991 shares worth approximately $2.166 million after selling 3,645 shares in the first quarter.
• Analyst ratings for Cohen & Steers include a target price reduction from $67.00 to $66.00 and an "underperform" rating by Bank of America.
• Cohen & Steers recently reported $0.73 earnings per share for the quarter, which was below the consensus estimate, although their revenue increased by 11.8% year-over-year.

American Century Companies Inc. trimmed its holdings in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,991 shares of the asset manager's stock after selling 3,645 shares during the period. American Century Companies Inc. owned about 0.05% of Cohen & Steers worth $2,166,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cohen & Steers during the 1st quarter worth approximately $25,000. Fifth Third Bancorp increased its stake in shares of Cohen & Steers by 101.9% during the 1st quarter. Fifth Third Bancorp now owns 654 shares of the asset manager's stock worth $52,000 after purchasing an additional 330 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cohen & Steers during the 4th quarter worth approximately $60,000. GAMMA Investing LLC increased its stake in shares of Cohen & Steers by 36.1% during the 1st quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock worth $80,000 after purchasing an additional 263 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Cohen & Steers during the 1st quarter worth approximately $110,000. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Price Performance

CNS stock traded down $0.22 during midday trading on Friday, hitting $72.46. The stock had a trading volume of 143,153 shares, compared to its average volume of 244,722. The firm has a market cap of $3.70 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 2.46 and a beta of 1.42. Cohen & Steers Inc has a 12-month low of $68.99 and a 12-month high of $110.67. The company's 50-day moving average price is $74.90 and its 200 day moving average price is $77.15.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $135.32 million during the quarter, compared to analyst estimates of $134.59 million. Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS.

Cohen & Steers Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Cohen & Steers 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.