Assenagon Asset Management S.A. Acquires New Holdings in Cohen & Steers Inc $CNS

Key Points

• Assenagon Asset Management acquired 65,944 shares of Cohen & Steers valued at approximately $5.0 million, giving it a 0.13% stake. Institutional investors collectively own 51.47% of the company.
• Cohen & Steers shares opened at $84.99, near their 52-week high of $86.56. The company reported quarterly EPS of $0.85, slightly below estimates, while revenue rose 12.2% year over year to $151.84 million.
• The company declared a quarterly dividend of $0.67, representing an annualized dividend of $2.68 and a 3.2% yield. Analysts maintain an average “Hold” rating with a $78 price target, below the current share price.

Assenagon Asset Management S.A. bought a new stake in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 65,944 shares of the asset manager's stock, valued at approximately $5,021,000. Assenagon Asset Management S.A. owned approximately 0.13% of Cohen & Steers at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in Cohen & Steers in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. lifted its position in shares of Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock valued at $31,000 after buying an additional 297 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Cohen & Steers in the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cohen & Steers by 110.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager's stock valued at $36,000 after buying an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Cohen & Steers by 754.9% in the 4th quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager's stock worth $38,000 after buying an additional 536 shares during the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Cohen & Steers Stock Up 0.8%

Shares of CNS opened at $84.99 on Thursday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 2.08 and a beta of 1.21. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $86.56. The stock's 50-day moving average price is $78.96 and its 200-day moving average price is $70.88.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The firm had revenue of $151.84 million for the quarter, compared to analysts' expectations of $149.45 million. During the same period last year, the company posted $0.73 earnings per share. The business's quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Cohen & Steers Inc will post 3.49 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a $0.67 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Cohen & Steers's dividend payout ratio (DPR) is 82.21%.

Wall Street Analyst Weigh In

CNS has been the subject of a number of recent analyst reports. Evercore reissued an "outperform" rating and issued a $88.00 price objective on shares of Cohen & Steers in a research report on Monday. Weiss Ratings raised Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $78.00.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer owned 22,146 shares of the company's stock, valued at $1,841,661.36. The trade was a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 45.40% of the stock is owned by insiders.

About Cohen & Steers

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).

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