Cohen & Steers Inc $CNS Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors increased its Cohen & Steers stake by 66.4% in the first quarter, owning 45,548 shares valued at approximately $2.85 million. Institutional investors collectively hold 51.47% of the company.
• Cohen & Steers reported quarterly revenue of $151.84 million, up 12.2% year over year, while EPS of $0.85 narrowly missed analysts’ $0.86 estimate. Shares recently traded at $84.62, near their 52-week high.
• The company declared a quarterly dividend of $0.67 per share, equivalent to an annualized $2.68 payout and a 3.2% yield. Analysts maintain a consensus “Hold” rating with a $76 target price.

First Trust Advisors LP lifted its position in Cohen & Steers Inc (NYSE:CNS - Free Report) by 66.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,548 shares of the asset manager's stock after acquiring an additional 18,181 shares during the quarter. First Trust Advisors LP owned 0.09% of Cohen & Steers worth $2,849,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock worth $31,000 after acquiring an additional 297 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Cohen & Steers in the 4th quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd acquired a new stake in Cohen & Steers during the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cohen & Steers by 110.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager's stock valued at $36,000 after buying an additional 299 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Cohen & Steers by 754.9% in the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager's stock worth $38,000 after purchasing an additional 536 shares during the period. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Trading Up 0.5%

Cohen & Steers stock opened at $84.62 on Friday. Cohen & Steers Inc has a 1 year low of $58.39 and a 1 year high of $85.63. The company has a market cap of $4.35 billion, a PE ratio of 25.96, a PEG ratio of 2.07 and a beta of 1.21. The company's 50-day moving average is $77.89 and its two-hundred day moving average is $70.47.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its earnings results on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The business had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. During the same period in the prior year, the firm posted $0.73 EPS. Cohen & Steers's revenue was up 12.2% on a year-over-year basis. Research analysts forecast that Cohen & Steers Inc will post 3.49 EPS for the current year.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, August 10th. Cohen & Steers's payout ratio is 82.21%.

Insider Buying and Selling

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the transaction, the executive vice president owned 28,682 shares of the company's stock, valued at $2,217,979.06. This represents a 13.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Elena Dulik sold 1,100 shares of the firm's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the transaction, the chief accounting officer directly owned 22,146 shares of the company's stock, valued at approximately $1,841,661.36. This trade represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 45.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CNS. Weiss Ratings upgraded shares of Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 29th. Evercore reiterated an "outperform" rating and set a $84.00 target price on shares of Cohen & Steers in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cohen & Steers currently has a consensus rating of "Hold" and a consensus target price of $76.00.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).

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