Bank of New York Mellon Corp Sells 46,727 Shares of Cohen & Steers Inc (NYSE:CNS)

Bank of New York Mellon Corp decreased its holdings in Cohen & Steers Inc (NYSE:CNS - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 404,651 shares of the asset manager's stock after selling 46,727 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of Cohen & Steers worth $32,473,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Cohen & Steers by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,319,673 shares of the asset manager's stock valued at $306,539,000 after purchasing an additional 22,012 shares in the last quarter. Invesco Ltd. grew its holdings in Cohen & Steers by 5.8% during the fourth quarter. Invesco Ltd. now owns 883,805 shares of the asset manager's stock worth $81,611,000 after buying an additional 48,683 shares in the last quarter. Geode Capital Management LLC raised its position in Cohen & Steers by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 724,849 shares of the asset manager's stock valued at $66,946,000 after buying an additional 15,526 shares during the last quarter. Congress Asset Management Co. lifted its stake in Cohen & Steers by 24.3% during the 1st quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock valued at $52,676,000 after acquiring an additional 128,315 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Cohen & Steers during the 4th quarter worth $44,737,000. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Stock Performance

NYSE:CNS traded down $2.85 during trading on Friday, reaching $72.71. The company's stock had a trading volume of 619,346 shares, compared to its average volume of 204,663. Cohen & Steers Inc has a 12 month low of $68.99 and a 12 month high of $110.67. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.48 and a beta of 1.32. The firm has a 50 day moving average of $77.12 and a 200-day moving average of $80.54.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). The company 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 30.36% and a net margin of 29.82%. Cohen & Steers's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share.

Cohen & Steers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Monday, May 12th. Cohen & Steers's dividend payout ratio is currently 81.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America began coverage on shares of Cohen & Steers in a report on Monday, June 30th. They issued an "underperform" rating and a $67.00 target price for the company. Evercore ISI decreased their price objective on shares of Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating for the company in a research note on Friday, April 11th.

Cohen & Steers Company 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.