Cohen & Steers Inc $CNS Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Cohen & Steers Inc by 3.5%, acquiring an additional 12,812 shares, bringing its total holdings to approximately 377,962 shares valued at $30.3 million.
• Analysts have lowered their price target on Cohen & Steers from $67.00 to $66.00, with an average rating of "Hold" and an average price target of $82.00.
• The company reported $0.73 earnings per share, missing estimates, but achieved revenue growth of 11.8% year-over-year, totaling $135.32 million for the quarter.

Northern Trust Corp increased its holdings in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 377,962 shares of the asset manager's stock after acquiring an additional 12,812 shares during the period. Northern Trust Corp owned approximately 0.74% of Cohen & Steers worth $30,331,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CNS. Nisa Investment Advisors LLC raised its holdings in Cohen & Steers by 2.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager's stock valued at $536,000 after acquiring an additional 165 shares during the last quarter. Hunter Perkins Capital Management LLC increased its holdings in Cohen & Steers by 1.1% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 16,469 shares of the asset manager's stock valued at $1,322,000 after purchasing an additional 182 shares during the last quarter. Covestor Ltd increased its holdings in Cohen & Steers by 12.8% in the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager's stock valued at $135,000 after purchasing an additional 191 shares during the last quarter. Mendel Capital Management LLC increased its holdings in Cohen & Steers by 4.3% in the 1st quarter. Mendel Capital Management LLC now owns 4,775 shares of the asset manager's stock valued at $383,000 after purchasing an additional 196 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Cohen & Steers by 7.9% in the 1st quarter. HighTower Advisors LLC now owns 2,689 shares of the asset manager's stock valued at $216,000 after purchasing an additional 198 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Cohen & Steers Stock Up 0.7%

Shares of CNS traded up $0.51 on Thursday, hitting $71.80. 70,199 shares of the stock traded hands, compared to its average volume of 214,415. The firm has a market capitalization of $3.66 billion, a P/E ratio of 22.79, a P/E/G ratio of 2.50 and a beta of 1.42. Cohen & Steers Inc has a 1 year low of $68.99 and a 1 year high of $110.67. The stock's 50 day moving average is $75.11 and its two-hundred day moving average is $77.40.

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

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 11th. Cohen & Steers's dividend payout ratio (DPR) 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.