AlphaQuest LLC Increases Stock Holdings in Cohen & Steers Inc $CNS

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 grew its stake in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 152.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Cohen & Steers in the first quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cohen & Steers in the fourth quarter worth approximately $60,000. Fifth Third Bancorp increased its position in shares of Cohen & Steers by 101.9% in the first quarter. Fifth Third Bancorp now owns 654 shares of the asset manager's stock worth $52,000 after purchasing an additional 330 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Cohen & Steers by 36.1% in the first quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock worth $80,000 after purchasing an additional 263 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its position in shares of Cohen & Steers by 926.0% in the fourth quarter. Johnson Financial Group Inc. now owns 1,026 shares of the asset manager's stock worth $91,000 after purchasing an additional 926 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America decreased their price objective on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating on the stock in a research report on Monday, July 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $82.00.

Cohen & Steers Stock Performance

CNS traded up $0.16 during midday trading on Monday, hitting $76.43. The stock had a trading volume of 214,759 shares, compared to its average volume of 212,862. The company has a market cap of $3.90 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business has a fifty day moving average of $75.31 and a 200 day moving average of $77.85. 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 issued its earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $135.32 million during the quarter, compared to analysts' expectations of $134.59 million. Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS.

Cohen & Steers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, August 11th. Cohen & Steers's dividend payout ratio is 78.73%.

Cohen & Steers 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.