Cohen & Steers Inc $CNS Holdings Decreased by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Cohen & Steers stake by 40.8% in the third quarter, selling 36,411 shares and ending the period with 52,744 shares valued at about $3.86 million.
• Institutional investors made mixed moves: ProShare Advisors and several others increased holdings, while Mirae Asset Global Investments opened a new position. Institutions collectively owned 51.47% of the company.
• Cohen & Steers matched quarterly EPS expectations at $0.89 and reported revenue growth of 11.1% year over year; it also declared a $0.67 quarterly dividend. Analysts’ consensus rating was Hold, with an $88 price target.

Alps Advisors Inc. trimmed its position in Cohen & Steers Inc (NYSE:CNS - Free Report) by 40.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,744 shares of the asset manager's stock after selling 36,411 shares during the quarter. Alps Advisors Inc. owned 0.10% of Cohen & Steers worth $3,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Cohen & Steers during the 3rd quarter valued at about $1,971,000. ProShare Advisors LLC raised its holdings in shares of Cohen & Steers by 37.6% in the 3rd quarter. ProShare Advisors LLC now owns 126,251 shares of the asset manager's stock valued at $9,230,000 after purchasing an additional 34,512 shares in the last quarter. State of Wyoming raised its holdings in shares of Cohen & Steers by 150.7% in the 3rd quarter. State of Wyoming now owns 2,627 shares of the asset manager's stock valued at $192,000 after purchasing an additional 1,579 shares in the last quarter. Signaturefd LLC lifted its position in shares of Cohen & Steers by 34.2% in the 3rd quarter. Signaturefd LLC now owns 1,512 shares of the asset manager's stock worth $111,000 after purchasing an additional 385 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of Cohen & Steers by 598.5% in the 3rd quarter. Sterling Capital Management LLC now owns 915 shares of the asset manager's stock worth $67,000 after purchasing an additional 784 shares during the period. Institutional investors own 51.47% of the company's stock.

Cohen & Steers Stock Down 0.1%

Shares of NYSE CNS opened at $73.12 on Monday. The business's 50 day moving average price is $73.40 and its 200 day moving average price is $72.15. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $86.56. The firm has a market cap of $3.76 billion, a P/E ratio of 22.43, a P/E/G ratio of 3.68 and a beta of 1.19.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings results on Thursday, October 15th. The asset manager reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $156.41 million for the quarter, compared to analyst estimates of $155.12 million. Cohen & Steers had a net margin of 28.16% and a return on equity of 26.90%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. As a group, research analysts expect that Cohen & Steers Inc will post 3.49 earnings per share for the current year.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 9th. Cohen & Steers's dividend payout ratio (DPR) is currently 82.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CNS shares. Evercore reiterated an "outperform" rating and set a $88.00 price objective on shares of Cohen & Steers in a research note on Monday, August 10th. Weiss Ratings downgraded shares of Cohen & Steers from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, November 2nd. Finally, Zacks Research lowered Cohen & Steers from a "hold" rating to a "strong sell" rating in a report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $88.00.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a global investment manager specializing in real assets and alternative income. The company manages investment strategies focused on publicly traded real estate securities, infrastructure, natural resources and preferred securities, along with related multi-asset strategies.

Founded in 1986 by Martin Cohen and Robert Steers, the firm has built its business around specialized investment management. Its offerings include mutual funds, exchange-traded funds, closed-end funds and separately managed accounts for individual and institutional investors.

Headquartered in New York City, Cohen & Steers serves clients in markets around the world.

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