Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Cohen & Steers Inc $CNS

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Cohen & Steers Inc by 92.3%, acquiring an additional 5,175 shares, bringing their total to 10,784 shares valued at approximately $813,000.
• Cohen & Steers reported a quarterly earnings per share (EPS) of $0.81, exceeding analysts' expectations, with a revenue of $140.94 million, up 6.4% year-over-year.
• The company recently announced a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 3.6%.

Envestnet Portfolio Solutions Inc. increased its position in Cohen & Steers Inc (NYSE:CNS - Free Report) by 92.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,784 shares of the asset manager's stock after acquiring an additional 5,175 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cohen & Steers were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Cohen & Steers by 2.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager's stock valued at $536,000 after buying an additional 165 shares during the last quarter. Hunter Perkins Capital Management LLC increased its stake in shares of Cohen & Steers by 1.1% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 16,469 shares of the asset manager's stock valued at $1,322,000 after purchasing an additional 182 shares in the last quarter. Covestor Ltd increased its stake in shares of Cohen & Steers by 12.8% in the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager's stock valued at $135,000 after purchasing an additional 191 shares in the last quarter. Mendel Capital Management LLC increased its stake in shares of Cohen & Steers by 4.3% in the 1st quarter. Mendel Capital Management LLC now owns 4,775 shares of the asset manager's stock valued at $383,000 after purchasing an additional 196 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Cohen & Steers by 7.9% in the 1st quarter. HighTower Advisors LLC now owns 2,689 shares of the asset manager's stock valued at $216,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company's stock.

Cohen & Steers Stock Performance

CNS opened at $69.49 on Monday. The stock has a market capitalization of $3.54 billion, a PE ratio of 21.78, a P/E/G ratio of 2.17 and a beta of 1.38. Cohen & Steers Inc has a one year low of $64.29 and a one year high of $108.76. The business's 50 day moving average price is $70.35 and its 200 day moving average price is $74.12.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its earnings results on Thursday, October 16th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.03. The company had revenue of $140.94 million for the quarter, compared to analyst estimates of $138.84 million. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.6%. Cohen & Steers's dividend payout ratio is currently 77.74%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNS. Bank of America lifted their price target on Cohen & Steers from $66.00 to $68.00 and gave the company an "underperform" rating in a research note on Thursday, October 2nd. Evercore ISI cut their price target on Cohen & Steers from $77.00 to $74.00 and set an "outperform" rating for the company in a research note on Thursday, October 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cohen & Steers in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Cohen & Steers presently has an average rating of "Hold" and a consensus price target of $71.00.

About Cohen & Steers

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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