Legal & General Group Plc Purchases Shares of 73,709 Cohen & Steers Inc $CNS

Key Points

• Legal & General Group Plc acquired 73,709 Cohen & Steers shares in the second quarter, valued at approximately $5.6 million, giving it a 0.14% stake. Institutional investors collectively own 51.47% of CNS.
• Analyst sentiment is mixed: Evercore maintained an “outperform” rating with an $88 price target, while the broader consensus remains “Hold” with an average target of $78.
• Cohen & Steers reported quarterly revenue of $151.84 million, up 12.2% year over year, but EPS of $0.85 narrowly missed estimates. The company paid a quarterly dividend of $0.67, representing a 3.4% yield and an 82.21% payout ratio.

Legal & General Group Plc acquired a new position in Cohen & Steers Inc (NYSE:CNS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 73,709 shares of the asset manager's stock, valued at approximately $5,612,000. Legal & General Group Plc owned 0.14% of Cohen & Steers at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its position in Cohen & Steers by 2.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,338 shares of the asset manager's stock worth $398,000 after purchasing an additional 176 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Cohen & Steers by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager's stock valued at $1,497,000 after buying an additional 185 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Cohen & Steers by 0.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 30,194 shares of the asset manager's stock valued at $2,276,000 after buying an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Cohen & Steers by 88.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager's stock worth $38,000 after acquiring an additional 287 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock worth $31,000 after acquiring an additional 297 shares during the period. 51.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNS. Evercore reissued an "outperform" rating and issued a $88.00 price target on shares of Cohen & Steers in a research report on Monday, August 10th. Weiss Ratings upgraded Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $78.00.

Cohen & Steers Stock Performance

Shares of NYSE:CNS opened at $78.89 on Friday. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $86.56. The company's fifty day moving average is $80.97 and its 200-day moving average is $72.85. The company has a market capitalization of $4.06 billion, a PE ratio of 24.20, a P/E/G ratio of 1.88 and a beta of 1.21.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The firm had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The company's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. On average, analysts forecast that Cohen & Steers Inc will post 3.53 EPS for the current year.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 10th. Cohen & Steers's payout ratio is presently 82.21%.

Insider Buying and Selling

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers 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 completion of the transaction, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the business's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $83.16, for a total value of $91,476.00. Following the completion of the transaction, the chief accounting officer directly owned 22,146 shares in the company, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 45.40% of the stock is owned by corporate insiders.

Cohen & Steers 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).

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