Cohen & Steers Inc $CNS Stock Position Lifted by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Cohen & Steers Inc by 27.3%, now owning 85,012 shares valued at approximately $6.82 million.
• Bank of America downgraded the stock's price target from $67.00 to $66.00, giving it an "underperform" rating.
• Cohen & Steers announced a quarterly dividend of $0.62 per share, representing an annualized yield of 3.3%, with the ex-dividend date on August 11th.

Public Sector Pension Investment Board lifted its position in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,012 shares of the asset manager's stock after acquiring an additional 18,226 shares during the period. Public Sector Pension Investment Board owned about 0.17% of Cohen & Steers worth $6,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Cohen & Steers by 5.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the asset manager's stock valued at $84,929,000 after acquiring an additional 53,876 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Cohen & Steers by 24.3% during the 1st quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock valued at $52,676,000 after acquiring an additional 128,315 shares in the last quarter. Bank of America Corp DE raised its position in shares of Cohen & Steers by 26.9% during the 4th quarter. Bank of America Corp DE now owns 139,485 shares of the asset manager's stock valued at $12,880,000 after acquiring an additional 29,558 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Cohen & Steers by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 133,860 shares of the asset manager's stock valued at $10,742,000 after acquiring an additional 3,035 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Cohen & Steers by 0.3% during the 4th quarter. Legal & General Group Plc now owns 83,671 shares of the asset manager's stock valued at $7,726,000 after acquiring an additional 289 shares in the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered their price objective on 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 investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $82.00.

Cohen & Steers Trading Down 2.3%

CNS traded down $1.6990 during trading on Thursday, reaching $71.6210. 422,739 shares of the company were exchanged, compared to its average volume of 196,919. The stock has a market cap of $3.65 billion, a P/E ratio of 22.74, a PEG ratio of 2.48 and a beta of 1.38. The firm has a 50 day moving average of $75.28 and a 200 day moving average of $78.17. Cohen & Steers Inc has a 52 week low of $68.99 and a 52 week high of $110.67.

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

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Monday, August 11th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.5%. Cohen & Steers's dividend payout ratio is presently 78.73%.

About Cohen & Steers

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.