Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 14,944 Cohen & Steers Inc $CNS

Key Points

• Connor Clark & Lunn Investment Management acquired 14,944 shares of Cohen & Steers in the second quarter, valued at approximately $1.14 million. Institutional investors and hedge funds collectively own 51.47% of the company.
• Cohen & Steers reported quarterly revenue of $151.84 million, up 12.2% year over year and above estimates, though earnings of $0.85 per share narrowly missed expectations. The company maintains a quarterly dividend of $0.67 per share, equal to a 3.2% annualized yield.
• CNS shares opened at $82.84, near their 12-month high, while analyst sentiment remains mixed: the stock carries an average “Hold” rating and a $78 consensus price target, despite Evercore’s $88 target and “outperform” rating.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,944 shares of the asset manager's stock, valued at approximately $1,138,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Cohen & Steers by 2.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,338 shares of the asset manager's stock valued at $398,000 after purchasing an additional 176 shares during the period. Thrivent Financial for Lutherans lifted its stake in Cohen & Steers by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager's stock valued at $1,497,000 after buying an additional 185 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Cohen & Steers by 0.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 30,194 shares of the asset manager's stock valued at $2,276,000 after buying an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Cohen & Steers by 88.9% in the first quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager's stock valued at $38,000 after acquiring an additional 287 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock valued at $31,000 after acquiring an additional 297 shares during the period. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Trading Up 0.1%

NYSE:CNS opened at $82.84 on Monday. Cohen & Steers Inc has a 12-month low of $58.39 and a 12-month high of $86.56. The stock's 50 day simple moving average is $80.73 and its 200-day simple moving average is $72.49. The firm has a market cap of $4.26 billion, a P/E ratio of 25.41, a PEG ratio of 2.02 and a beta of 1.21.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The company 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 business earned $0.73 earnings per share. Cohen & Steers's revenue for the quarter was up 12.2% compared to the same quarter last year. Research analysts forecast that Cohen & Steers Inc will post 3.53 EPS for the current fiscal year.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were given a dividend of $0.67 per share. The ex-dividend date was Monday, August 10th. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Cohen & Steers's dividend payout ratio is presently 82.21%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

CNS has been the topic of a number of recent research reports. Weiss Ratings raised shares of Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Evercore reiterated an "outperform" rating and set a $88.00 price target on shares of Cohen & Steers in a research note on Monday, August 10th. Two 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, the stock currently has an average rating of "Hold" and an average target price of $78.00.

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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