Invesco Ltd. Sells 429,954 Shares of Cohen & Steers Inc $CNS

Key Points

• Invesco Ltd. reduced its stake in Cohen & Steers Inc. by 48.6%, selling 429,954 shares to hold 453,851 shares, valued at approximately $36.42 million.
• Cohen & Steers has recently reported earnings per share of $0.73, which was below the consensus estimate of $0.75, although its revenue increased by 11.8% year-over-year.
• The company announced a quarterly dividend of $0.62 per share, with a dividend yield of 3.3%, set to be paid to shareholders on August 21st.

Invesco Ltd. decreased its holdings in Cohen & Steers Inc (NYSE:CNS - Free Report) by 48.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 453,851 shares of the asset manager's stock after selling 429,954 shares during the period. Invesco Ltd. owned about 0.89% of Cohen & Steers worth $36,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Pillar Financial Advisors LLC raised its stake in Cohen & Steers by 125.0% in the first quarter. Pillar Financial Advisors LLC now owns 14,008 shares of the asset manager's stock worth $1,124,000 after buying an additional 7,781 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Cohen & Steers by 21.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,903 shares of the asset manager's stock valued at $2,319,000 after purchasing an additional 5,037 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cohen & Steers by 36.1% during the 1st quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock valued at $80,000 after purchasing an additional 263 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Cohen & Steers by 8.8% during the 4th quarter. Wells Fargo & Company MN now owns 49,090 shares of the asset manager's stock valued at $4,533,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Cohen & Steers by 46.7% during the 4th quarter. Deutsche Bank AG now owns 25,298 shares of the asset manager's stock valued at $2,336,000 after purchasing an additional 8,059 shares during the last quarter. Institutional investors own 51.47% of the company's stock.

Cohen & Steers Trading Down 1.0%

Shares of CNS opened at $74.19 on Tuesday. Cohen & Steers Inc has a 12 month low of $68.99 and a 12 month high of $110.67. The stock has a fifty day moving average price of $75.50 and a 200-day moving average price of $78.33. The firm has a market cap of $3.78 billion, a PE ratio of 23.55, a P/E/G ratio of 2.54 and a beta of 1.38.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its 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 firm had revenue of $135.32 million during the quarter, compared to analyst estimates of $134.59 million. During the same period in the previous year, the company earned $0.68 earnings per share. Cohen & Steers's revenue was up 11.8% on a year-over-year basis.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Monday, August 11th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 11th. Cohen & Steers's dividend payout ratio is presently 78.73%.

Analyst Upgrades and Downgrades

Separately, Bank of America decreased their price objective on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a report on Monday, July 21st.

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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