Cohen & Steers Inc $CNS Stake Reduced by Wasatch Advisors LP

Key Points

• Wasatch Advisors cut its Cohen & Steers stake by 43.5% in the second quarter, selling 911,598 shares and retaining 1.19 million shares worth approximately $90.3 million. Institutional investors collectively own 51.47% of CNS.
• Analyst sentiment remains mixed: Evercore reaffirmed an “outperform” rating with an $88 price target, while the broader analyst consensus is “Hold” with an average target of $78.
• CNS shares rose 2.9% to $84.50, near their 52-week high, while the company reported 12.2% year-over-year revenue growth despite narrowly missing quarterly EPS estimates. Cohen & Steers also declared a $0.67 quarterly dividend, yielding about 3.2% annually.

Wasatch Advisors LP trimmed its holdings in Cohen & Steers Inc (NYSE:CNS - Free Report) by 43.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,185,911 shares of the asset manager's stock after selling 911,598 shares during the quarter. Wasatch Advisors LP owned 2.31% of Cohen & Steers worth $90,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CNS. Legacy Wealth Asset Management LLC acquired a new position in shares of Cohen & Steers in the 2nd quarter worth approximately $254,000. Hennion & Walsh Asset Management Inc. lifted its stake in Cohen & Steers by 67.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,494 shares of the asset manager's stock valued at $875,000 after purchasing an additional 4,630 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Cohen & Steers during the second quarter valued at approximately $5,021,000. Baron Wealth Management LLC boosted its holdings in Cohen & Steers by 25.3% during the second quarter. Baron Wealth Management LLC now owns 6,100 shares of the asset manager's stock worth $464,000 after buying an additional 1,230 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new stake in Cohen & Steers during the second quarter worth approximately $1,334,000. Institutional investors own 51.47% of the company's stock.

Wall Street Analysts Forecast Growth

CNS has been the topic of several research reports. Evercore reaffirmed an "outperform" rating and issued a $88.00 price target on shares of Cohen & Steers in a report on Monday. Weiss Ratings raised Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $78.00.

Cohen & Steers Trading Up 2.9%

NYSE CNS opened at $84.50 on Wednesday. The stock's 50-day moving average price is $78.66 and its two-hundred day moving average price is $70.77. The company has a market cap of $4.35 billion, a PE ratio of 25.92, a PEG ratio of 2.02 and a beta of 1.21. Cohen & Steers Inc has a 1 year low of $58.39 and a 1 year high of $86.56.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings data 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 net margin of 28.82% and a return on equity of 27.41%. The firm had revenue of $151.84 million for the quarter, compared to analysts' expectations of $149.45 million. During the same period in the prior year, the company posted $0.73 earnings per share. Cohen & Steers's quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts forecast that Cohen & Steers Inc will post 3.49 EPS for the current fiscal year.

Cohen & Steers Dividend Announcement

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

Insider Activity at Cohen & Steers

In related news, EVP Daniel Noonan sold 4,360 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the sale, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. This represents a 13.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Elena Dulik sold 1,100 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The stock was 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 $1,841,661.36. This represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 45.40% of the stock is currently owned by corporate insiders.

Cohen & Steers 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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