Navellier & Associates Inc. Takes Position in Cohen & Steers Inc $CNS

Key Points

• Navellier & Associates purchased 57,115 shares (~$3.59M), taking a new ~0.11% stake, while Millennium Management increased its position 485% to 93,175 shares; institutional investors now own 51.47% of Cohen & Steers.
• Cohen & Steers slightly missed Q1 EPS ($0.79 vs. $0.82) but revenue rose 8.3% to $144.26M and the company reported strong profitability (ROE 27.6%, net margin 27.5%).
• The stock has a consensus Hold rating with an average target of $72, trades near $69.55 (P/E 22.95), and pays a $0.67 quarterly dividend (3.9% yield; payout ratio 88%).

Navellier & Associates Inc. purchased a new stake in Cohen & Steers Inc (NYSE:CNS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,115 shares of the asset manager's stock, valued at approximately $3,586,000. Navellier & Associates Inc. owned approximately 0.11% of Cohen & Steers as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its position in Cohen & Steers by 2.0% during the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager's stock worth $4,124,000 after purchasing an additional 1,003 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cohen & Steers by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager's stock worth $1,313,000 after purchasing an additional 716 shares in the last quarter. Millennium Management LLC increased its position in Cohen & Steers by 485.1% during the 1st quarter. Millennium Management LLC now owns 93,175 shares of the asset manager's stock worth $7,477,000 after purchasing an additional 77,251 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Cohen & Steers during the 1st quarter worth about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cohen & Steers by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager's stock worth $5,838,000 after purchasing an additional 2,155 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore set a $76.00 price objective on Cohen & Steers in a research report on Monday, April 20th. Zacks Research upgraded Cohen & Steers from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Finally, Weiss Ratings upgraded Cohen & Steers from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $72.00.

Insider Buying and Selling at Cohen & Steers

In other news, EVP Francis C. Poli sold 10,000 shares of Cohen & Steers stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $65.73, for a total value of $657,300.00. Following the transaction, the executive vice president directly owned 55,675 shares of the company's stock, valued at $3,659,517.75. The trade was a 15.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 45.40% of the stock is owned by corporate insiders.

Cohen & Steers Trading Up 1.9%

Shares of NYSE:CNS opened at $69.55 on Wednesday. The stock's 50-day moving average price is $65.09 and its two-hundred day moving average price is $65.23. Cohen & Steers Inc has a 12-month low of $58.39 and a 12-month high of $83.99. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.94 and a beta of 1.27.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.03). Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The business had revenue of $144.26 million during the quarter, compared to analyst estimates of $140.62 million. During the same period in the previous year, the business posted $0.75 earnings per share. The firm's quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Cohen & Steers Inc will post 3.38 earnings per share for the current fiscal year.

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, May 11th. Cohen & Steers's payout ratio is currently 88.45%.

About Cohen & Steers

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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