Cohen & Steers Inc $CNS Shares Sold by Invesco Ltd.

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. cut its holdings in Cohen & Steers Inc (NYSE:CNS - Free Report) by 48.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,851 shares of the asset manager's stock after selling 429,954 shares during the quarter. Invesco Ltd. owned 0.89% of Cohen & Steers worth $36,422,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Covestor Ltd boosted its stake in shares of Cohen & Steers by 12.8% in the first quarter. Covestor Ltd now owns 1,678 shares of the asset manager's stock valued at $135,000 after buying an additional 191 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Cohen & Steers by 11.8% in the first quarter. Townsquare Capital LLC now owns 36,072 shares of the asset manager's stock valued at $2,895,000 after buying an additional 3,816 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Cohen & Steers by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the asset manager's stock worth $84,929,000 after purchasing an additional 53,876 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Cohen & Steers during the first quarter worth $110,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Cohen & Steers during the first quarter worth $707,000. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cohen & Steers Trading Up 6.1%

Shares of NYSE:CNS traded up $4.4010 on Friday, hitting $76.2510. The company had a trading volume of 352,319 shares, compared to its average volume of 203,701. Cohen & Steers Inc has a 52-week low of $68.99 and a 52-week high of $110.67. The business has a 50 day moving average of $75.29 and a 200 day moving average of $78.02. The company has a market cap of $3.89 billion, a PE ratio of 24.21, a PEG ratio of 2.58 and a beta of 1.38.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $134.59 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The firm's revenue was up 11.8% compared to the same quarter last year.

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 $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 11th. Cohen & Steers's dividend payout ratio is currently 78.73%.

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.