Congress Asset Management Co. Sells 21,779 Shares of Cohen & Steers Inc $CNS

Key Points

• Congress Asset Management Co. reduced its stake in Cohen & Steers Inc by 3.3% in Q2, selling 21,779 shares and owning about 1.24% of the company valued at $47.8 million.
• Cohen & Steers reported a missed earnings target for Q2, with EPS at $0.73 versus the expected $0.75, although revenue increased 11.8% year-over-year.
• The company declared a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 3.7%, with a payout ratio of 78.73%.

Congress Asset Management Co. cut its stake in Cohen & Steers Inc (NYSE:CNS - Free Report) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 634,618 shares of the asset manager's stock after selling 21,779 shares during the quarter. Congress Asset Management Co. owned about 1.24% of Cohen & Steers worth $47,818,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Taylor Hoffman Capital Management LLC increased its stake in shares of Cohen & Steers by 3.1% in the 2nd quarter. Taylor Hoffman Capital Management LLC now owns 62,814 shares of the asset manager's stock worth $4,733,000 after acquiring an additional 1,864 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Cohen & Steers by 1.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,629 shares of the asset manager's stock worth $1,780,000 after acquiring an additional 254 shares in the last quarter. Strs Ohio bought a new position in shares of Cohen & Steers in the 1st quarter worth about $867,000. Geneos Wealth Management Inc. increased its stake in shares of Cohen & Steers by 345.3% in the 1st 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. Finally, Jane Street Group LLC increased its stake in shares of Cohen & Steers by 475.9% in the 1st quarter. Jane Street Group LLC now owns 52,208 shares of the asset manager's stock worth $4,190,000 after acquiring an additional 43,143 shares in the last quarter. 51.47% of the stock is currently owned by institutional investors.

Cohen & Steers Stock Up 0.2%

Shares of NYSE CNS opened at $66.49 on Friday. The firm's 50-day moving average price is $72.74 and its 200-day moving average price is $75.52. The company has a market cap of $3.39 billion, a PE ratio of 21.11, a PEG ratio of 2.25 and a beta of 1.42. Cohen & Steers Inc has a 52-week low of $65.84 and a 52-week high of $110.67.

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

Cohen & Steers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders 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 3.7%. The ex-dividend date of this dividend was Monday, August 11th. Cohen & Steers's dividend payout ratio (DPR) is presently 78.73%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CNS shares. Bank of America decreased their price target on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a research note on Monday, July 21st. Evercore ISI decreased their price target on shares of Cohen & Steers from $79.00 to $77.00 and set an "outperform" rating for the company in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $81.67.

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.

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