Gabelli Funds LLC Has $11.91 Million Position in Cohen & Steers Inc $CNS

Key Points

• Gabelli Funds increased its Cohen & Steers position by 38% in the first quarter, holding 190,395 shares worth approximately $11.91 million. Institutional investors collectively own 51.47% of the company.
• Cohen & Steers reported quarterly revenue of $151.84 million, up 12.2% year over year, while earnings per share of $0.85 narrowly missed analyst estimates. The company also maintains a quarterly dividend of $0.67, yielding about 3.3% annually.
• The stock opened at $81.31, above analysts’ consensus target price of $76.00; analyst sentiment remains “Hold,” with ratings ranging from Buy to Sell. An executive vice president recently sold 4,360 shares, while insiders retain 45.40% ownership.

Gabelli Funds LLC lifted its position in Cohen & Steers Inc (NYSE:CNS - Free Report) by 38.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,395 shares of the asset manager's stock after buying an additional 52,400 shares during the quarter. Gabelli Funds LLC owned about 0.37% of Cohen & Steers worth $11,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Navellier & Associates Inc. bought a new stake in Cohen & Steers in the 4th quarter valued at $3,586,000. Tudor Investment Corp ET AL increased its holdings in shares of Cohen & Steers by 156.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,292 shares of the asset manager's stock worth $5,071,000 after purchasing an additional 47,096 shares during the period. Hunter Perkins Capital Management LLC increased its holdings in shares of Cohen & Steers by 91.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 25,579 shares of the asset manager's stock worth $1,606,000 after purchasing an additional 12,247 shares during the period. Teacher Retirement System of Texas raised its position in shares of Cohen & Steers by 40.5% during the fourth quarter. Teacher Retirement System of Texas now owns 99,778 shares of the asset manager's stock valued at $6,264,000 after buying an additional 28,740 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cohen & Steers during the fourth quarter valued at about $30,232,000. 51.47% of the stock is owned by institutional investors.

Insider Transactions at Cohen & Steers

In other news, EVP Daniel Noonan sold 4,360 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the transaction, the executive vice president owned 28,682 shares of the company's stock, valued at $2,217,979.06. This represents a 13.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 45.40% of the company's stock.

Cohen & Steers Stock Down 0.0%

NYSE:CNS opened at $81.31 on Monday. The firm has a market cap of $4.18 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22. Cohen & Steers Inc has a 12 month low of $58.39 and a 12 month high of $84.93. The company's 50-day moving average price is $75.83 and its two-hundred day moving average price is $69.54.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The business had revenue of $151.84 million during the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a net margin of 28.82% and a return on equity of 28.03%. The business's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. On average, research analysts expect that Cohen & Steers Inc will post 3.59 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, May 11th. Cohen & Steers's dividend payout ratio is currently 82.21%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings raised Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, June 29th. Evercore restated an "outperform" rating and set a $84.00 price objective on shares of Cohen & Steers in a research report on Friday, July 10th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $76.00.

Cohen & Steers Company 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).

Want to see what other hedge funds are holding CNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cohen & Steers Inc (NYSE:CNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.