Hsbc Holdings PLC Boosts Stock Holdings in Cohen & Steers Inc $CNS

Key Points

• Hsbc Holdings PLC increased its stake in Cohen & Steers Inc by 9.9%, acquiring an additional 8,067 shares, bringing its total ownership to approximately 89,342 shares valued at $7.1 million.
• For the last quarter, Cohen & Steers reported an EPS of $0.73, falling short of analysts' expectations, but achieved a year-over-year revenue increase of 11.8% to $135.32 million.
• The firm declared a quarterly dividend of $0.62 per share, reflecting a dividend yield of 3.2% and a payout ratio of 78.73%.

Hsbc Holdings PLC raised its position in Cohen & Steers Inc (NYSE:CNS - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,342 shares of the asset manager's stock after buying an additional 8,067 shares during the period. Hsbc Holdings PLC owned 0.18% of Cohen & Steers worth $7,147,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pillar Financial Advisors LLC increased its stake in shares of Cohen & Steers by 125.0% during the 1st quarter. Pillar Financial Advisors LLC now owns 14,008 shares of the asset manager's stock worth $1,124,000 after purchasing an additional 7,781 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Cohen & Steers by 21.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,903 shares of the asset manager's stock worth $2,319,000 after buying an additional 5,037 shares during the period. GAMMA Investing LLC boosted its holdings in Cohen & Steers by 36.1% in the 1st quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock worth $80,000 after buying an additional 263 shares during the period. Entropy Technologies LP bought a new position in Cohen & Steers in the 1st quarter worth approximately $441,000. Finally, Deutsche Bank AG boosted its holdings in Cohen & Steers by 46.7% in the 4th quarter. Deutsche Bank AG now owns 25,298 shares of the asset manager's stock worth $2,336,000 after buying an additional 8,059 shares during the period. Hedge funds and other institutional investors own 51.47% of the company's stock.

Analysts Set New Price Targets

Separately, Bank of America cut their price target on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a report on Monday, July 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cohen & Steers presently has a consensus rating of "Hold" and a consensus target price of $82.00.

Cohen & Steers Stock Down 0.4%

Shares of NYSE:CNS traded down $0.33 during midday trading on Friday, hitting $73.69. 474,067 shares of the stock traded hands, compared to its average volume of 231,990. The stock has a market capitalization of $3.76 billion, a PE ratio of 23.39, a P/E/G ratio of 2.51 and a beta of 1.38. The business's 50 day moving average is $75.35 and its two-hundred day moving average is $77.65. Cohen & Steers Inc has a one year low of $68.99 and a one year 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 the consensus estimate of $0.75 by ($0.02). Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The company had revenue of $135.32 million for the quarter, compared to analysts' expectations of $134.59 million. During the same quarter in the prior year, the firm earned $0.68 EPS. Cohen & Steers's quarterly revenue was up 11.8% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, August 11th. Cohen & Steers's dividend payout ratio is 78.73%.

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.