BlackRock Inc. Buys Shares of 31,345 Cohen & Steers Inc $CNS

Key Points

• BlackRock initiated a stake in Cohen & Steers during the second quarter, purchasing 31,345 shares valued at approximately $426,000. Institutional investors collectively own 51.47% of the company.
• Cohen & Steers reported quarterly revenue of $151.84 million, up 12.2% year over year, while earnings of $0.85 per share narrowly missed analyst expectations. The company paid a quarterly dividend of $0.67 per share, implying a 3.4% yield.
• The stock opened at $79.96, compared with analysts’ average price target of $78 and a consensus rating of “Hold.” Two company insiders also recently sold shares, while insiders collectively own 45.40% of the stock.

BlackRock Inc. bought a new stake in Cohen & Steers Inc (NYSE:CNS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,345 shares of the asset manager's stock, valued at approximately $426,000. BlackRock Inc. owned approximately 0.06% of Cohen & Steers as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Geneos Wealth Management Inc. lifted its position in shares of Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock worth $31,000 after purchasing an additional 297 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Cohen & Steers during the fourth quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd acquired a new position in Cohen & Steers in the 4th quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd increased its stake in 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 during the period. Finally, Hantz Financial Services Inc. lifted its position in 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 in the last quarter. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Trading Up 0.1%

Shares of NYSE:CNS opened at $79.96 on Tuesday. The stock has a market capitalization of $4.11 billion, a PE ratio of 24.53, a P/E/G ratio of 1.95 and a beta of 1.21. Cohen & Steers Inc has a 1 year low of $58.39 and a 1 year high of $86.56. The firm has a fifty day moving average price of $81.09 and a 200 day moving average price of $73.04.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its 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). Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The company had revenue of $151.84 million for the quarter, compared to the consensus estimate of $149.45 million. During the same quarter last year, the business earned $0.73 earnings per share. Cohen & Steers's quarterly revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts forecast that Cohen & Steers Inc will post 3.53 earnings per share for the current fiscal year.

Cohen & Steers Dividend Announcement

The business also recently declared 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 3.4%. The ex-dividend date was Monday, August 10th. Cohen & Steers's dividend payout ratio (DPR) is 82.21%.

Insider Activity at Cohen & Steers

In related news, CAO Elena Dulik sold 1,100 shares of the company's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the sale, the chief accounting officer directly owned 22,146 shares of the company's stock, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Noonan sold 4,360 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the transaction, the executive vice president owned 28,682 shares in the company, valued at $2,217,979.06. The trade was a 13.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 45.40% of the company's stock.

Analysts Set New Price Targets

CNS has been the subject of a number of research reports. Evercore reissued an "outperform" rating and set a $88.00 target price on shares of Cohen & Steers in a research note on Monday, August 10th. Weiss Ratings raised shares of Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Two 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $78.00.

Cohen & Steers Company 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).

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