Charles Schwab Investment Management Inc. Grows Stake in Cohen & Steers Inc (NYSE:CNS)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Cohen & Steers Inc (NYSE:CNS) by 5.4% in the first quarter, owning approximately 1,058,309 shares valued at $84.9 million after adding 53,876 shares.
• Cohen & Steers reported a quarterly earnings per share (EPS) of $0.73, slightly below the consensus estimate of $0.75, while its revenues reached $135.32 million, representing an 11.8% year-over-year increase.
• The company declared a quarterly dividend of $0.62 per share, with an annualized yield of 3.2%, set to be paid on August 21st.

Charles Schwab Investment Management Inc. raised its holdings in Cohen & Steers Inc (NYSE:CNS - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,058,309 shares of the asset manager's stock after acquiring an additional 53,876 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.08% of Cohen & Steers worth $84,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of CNS. Congress Asset Management Co. grew its stake in shares of Cohen & Steers by 24.3% during the first quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock worth $52,676,000 after acquiring an additional 128,315 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cohen & Steers by 10,820.2% during the first quarter. GAMMA Investing LLC now owns 79,608 shares of the asset manager's stock worth $6,389,000 after buying an additional 78,879 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Cohen & Steers in the fourth quarter valued at $4,923,000. EAM Global Investors LLC purchased a new stake in shares of Cohen & Steers in the 4th quarter valued at $3,209,000. Finally, First Trust Advisors LP raised its holdings in shares of Cohen & Steers by 426.0% in the 4th quarter. First Trust Advisors LP now owns 41,960 shares of the asset manager's stock valued at $3,875,000 after buying an additional 33,983 shares during the period. Institutional investors own 51.47% of the company's stock.

Wall Street Analyst Weigh In

Separately, Bank of America cut their price target on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating on the stock in a report on Monday, July 21st.

Cohen & Steers Stock Performance

Shares of NYSE:CNS traded down $1.69 on Friday, hitting $74.94. 176,898 shares of the company's stock were exchanged, compared to its average volume of 233,207. The firm's 50-day moving average is $75.56 and its 200 day moving average is $78.57. The company has a market capitalization of $3.82 billion, a PE ratio of 23.79, a P/E/G ratio of 2.47 and a beta of 1.38. Cohen & Steers Inc has a 1-year low of $68.99 and a 1-year high of $110.67.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) 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 firm had revenue of $135.32 million during the quarter, compared to analyst estimates of $134.59 million. During the same period last year, the company earned $0.68 earnings per share. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Monday, August 11th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 11th. Cohen & Steers's dividend payout ratio (DPR) is presently 78.73%.

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.