Cohen & Steers Inc $CNS Holdings Decreased by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Cohen & Steers stake by 5.4% in the third quarter, selling 28,938 shares; it retained 505,611 shares valued at about $37 million. Institutional investors collectively own 51.47% of the company.
• Cohen & Steers reported quarterly EPS of $0.89, matching estimates, while revenue rose 11.1% year over year to $156.4 million—above analyst expectations.
• The company declared a quarterly dividend of $0.67 per share, equivalent to a 3.7% annualized yield. Analyst views were mixed, resulting in a consensus “Hold” rating and an average price target of $88.

Boston Trust Walden Corp lessened its stake in Cohen & Steers Inc (NYSE:CNS - Free Report) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 505,611 shares of the asset manager's stock after selling 28,938 shares during the period. Boston Trust Walden Corp owned about 0.98% of Cohen & Steers worth $36,965,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Cohen & Steers in the third quarter worth $1,971,000. ProShare Advisors LLC increased its stake in Cohen & Steers by 37.6% in the third 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% during the third 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 during the period. Signaturefd LLC raised its holdings in shares of Cohen & Steers by 34.2% during the third quarter. Signaturefd LLC now owns 1,512 shares of the asset manager's stock valued at $111,000 after purchasing an additional 385 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of Cohen & Steers by 598.5% during the third quarter. Sterling Capital Management LLC now owns 915 shares of the asset manager's stock valued at $67,000 after purchasing an additional 784 shares during the period. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Stock Performance

Shares of CNS stock opened at $73.21 on Friday. The company has a market capitalization of $3.77 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.80 and a beta of 1.19. Cohen & Steers Inc has a 52-week low of $58.39 and a 52-week high of $86.56. The business's fifty day moving average is $73.59 and its 200 day moving average is $72.13.

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

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, November 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. Cohen & Steers's dividend payout ratio is currently 82.21%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CNS shares. Evercore restated an "outperform" rating and set a $88.00 price objective on shares of Cohen & Steers in a report on Monday, August 10th. Weiss Ratings cut Cohen & Steers from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday. Finally, Zacks Research downgraded shares of Cohen & Steers from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $88.00.

About Cohen & Steers

Cohen & Steers, Inc is a global investment management company specializing in real assets and alternative income. The firm manages investment strategies focused on real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented assets.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios and private-market strategies. Cohen & Steers serves institutional investors, financial intermediaries and individual investors through a range of publicly traded and privately held investment vehicles.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and serves clients in North America, Europe and Asia.

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