Jefferies Financial Group Inc. Makes New Investment in Cohen & Steers Inc (NYSE:CNS)

Key Points

• Jefferies Financial Group Inc. acquired 8,812 shares of Cohen & Steers Inc, totaling approximately $707,000, as stated in their latest SEC filing.
• Cohen & Steers announced a quarterly dividend of $0.62 per share, representing a 3.3% annual yield, with the ex-dividend date set for August 11th.
• Despite reporting a miss in EPS estimates for the last quarter, Cohen & Steers showed an 11.8% increase in revenue year-over-year.

Jefferies Financial Group Inc. bought a new position in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,812 shares of the asset manager's stock, valued at approximately $707,000.

A number of other large investors have also modified their holdings of the business. American Century Companies Inc. boosted its position in Cohen & Steers by 6.7% during the fourth quarter. American Century Companies Inc. now owns 30,636 shares of the asset manager's stock worth $2,829,000 after acquiring an additional 1,930 shares during the last quarter. LPL Financial LLC lifted its stake in Cohen & Steers by 8.3% in the 4th quarter. LPL Financial LLC now owns 13,681 shares of the asset manager's stock worth $1,263,000 after purchasing an additional 1,046 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Cohen & Steers by 87.5% in the 4th quarter. JPMorgan Chase & Co. now owns 163,924 shares of the asset manager's stock worth $15,137,000 after purchasing an additional 76,486 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Cohen & Steers during the 4th quarter worth approximately $628,000. Finally, Alliancebernstein L.P. grew its position in shares of Cohen & Steers by 1.1% in the fourth quarter. Alliancebernstein L.P. now owns 37,635 shares of the asset manager's stock valued at $3,475,000 after purchasing an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNS shares. Bank of America lowered their price objective on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating on the stock in a research note on Monday, July 21st. Evercore ISI lowered their price target on shares of Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th.

Cohen & Steers Price Performance

Shares of CNS stock traded down $0.22 during trading on Wednesday, hitting $74.56. 214,677 shares of the stock traded hands, compared to its average volume of 243,238. Cohen & Steers Inc has a 52-week low of $68.99 and a 52-week high of $110.67. The firm has a market capitalization of $3.80 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.38. The firm's fifty day moving average price is $75.80 and its 200-day moving average price is $79.28.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $135.32 million during the quarter, compared to analyst estimates of $134.59 million. Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The business's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS.

Cohen & Steers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Monday, August 11th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.3%. Cohen & Steers's dividend payout ratio (DPR) is currently 78.73%.

Cohen & Steers Company 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.