Nuveen LLC Takes Position in Cohen & Steers Inc $CNS

Key Points

• Nuveen LLC has made a new investment of $6.19 million in Cohen & Steers Inc, acquiring 77,176 shares during the first quarter, which represents about 0.15% of the company's total shares.
• Cohen & Steers reported a quarterly EPS of $0.73, missing expectations, but had revenue of $135.32 million, surpassing forecasts, with a year-over-year revenue increase of 11.8%.
• The company announced a quarterly dividend of $0.62 per share, providing an annualized dividend of $2.48 and a yield of 3.2% on the stock.

Nuveen LLC bought a new position in Cohen & Steers Inc (NYSE:CNS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 77,176 shares of the asset manager's stock, valued at approximately $6,193,000. Nuveen LLC owned about 0.15% of Cohen & Steers as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CNS. Nisa Investment Advisors LLC grew its position in shares of Cohen & Steers by 2.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager's stock valued at $536,000 after buying an additional 165 shares during the last quarter. Hunter Perkins Capital Management LLC grew its position in shares of Cohen & Steers by 1.1% during 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 buying an additional 182 shares during the last quarter. Covestor Ltd grew its position in shares of Cohen & Steers by 12.8% during the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager's stock valued at $135,000 after buying an additional 191 shares during the last quarter. Mendel Capital Management LLC grew its position in shares of Cohen & Steers by 4.3% during the 1st quarter. Mendel Capital Management LLC now owns 4,775 shares of the asset manager's stock valued at $383,000 after buying an additional 196 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Cohen & Steers by 4.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,609 shares of the asset manager's stock valued at $450,000 after buying an additional 245 shares during the last quarter. Institutional investors own 51.47% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America reduced their target price on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a research note on Monday, July 21st. One equities 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. According to MarketBeat.com, Cohen & Steers presently has an average rating of "Hold" and a consensus target price of $82.00.

Cohen & Steers Trading Down 0.4%

CNS stock traded down $0.33 on Friday, hitting $73.69. 474,067 shares of the company's stock traded hands, compared to its average volume of 231,990. Cohen & Steers Inc has a 1-year low of $68.99 and a 1-year high of $110.67. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 2.51 and a beta of 1.38. The stock has a fifty day moving average of $75.35 and a 200-day moving average of $77.65.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). The firm had revenue of $135.32 million for 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 firm's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a yield of 3.4%. Cohen & Steers's dividend payout ratio is 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.