Cohen & Steers Inc $CNS Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its holdings in Cohen & Steers Inc by 152.7% in Q1, acquiring an additional 11,678 shares for a total of 19,327 shares valued at approximately $1.55 million.
• Cohen & Steers reported a Q2 EPS of $0.73, missing analysts' expectations of $0.75, despite achieving revenue growth of 11.8% year-over-year.
• The company recently announced a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 3.3%.

AlphaQuest LLC increased its position in Cohen & Steers Inc (NYSE:CNS - Free Report) by 152.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,327 shares of the asset manager's stock after buying an additional 11,678 shares during the period. AlphaQuest LLC's holdings in Cohen & Steers were worth $1,551,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CNS. Congress Asset Management Co. raised its position in shares of Cohen & Steers by 24.3% in the first quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock valued at $52,676,000 after buying an additional 128,315 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Cohen & Steers by 10,820.2% in the first quarter. GAMMA Investing LLC now owns 79,608 shares of the asset manager's stock valued at $6,389,000 after buying an additional 78,879 shares during the last quarter. Nuveen LLC acquired a new position in shares of Cohen & Steers in the first quarter valued at approximately $6,193,000. Charles Schwab Investment Management Inc. raised its position in shares of Cohen & Steers by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the asset manager's stock valued at $84,929,000 after buying an additional 53,876 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Cohen & Steers in the fourth quarter valued at approximately $4,923,000. Institutional investors and hedge funds own 51.47% of the company's stock.

Analyst Ratings Changes

Separately, Bank of America cut their price objective on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a research report on Monday, July 21st. One equities research 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $82.00.

Cohen & Steers Trading Down 1.6%

CNS traded down $1.18 during trading on Thursday, hitting $74.19. 121,869 shares of the company's stock were exchanged, compared to its average volume of 212,010. Cohen & Steers Inc has a 1 year low of $68.99 and a 1 year high of $110.67. The stock has a 50 day moving average price of $75.38 and a 200 day moving average price of $77.83. The firm has a market cap of $3.78 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its earnings results on Thursday, July 17th. The asset manager reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The firm had revenue of $135.32 million for the quarter, compared to analyst estimates of $134.59 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The company's revenue for the quarter was up 11.8% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 11th. Cohen & Steers's dividend payout ratio is 78.73%.

About Cohen & Steers

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.