Public Sector Pension Investment Board Buys 18,226 Shares of Cohen & Steers Inc $CNS

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 increased its stake in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,012 shares of the asset manager's stock after purchasing an additional 18,226 shares during the period. Public Sector Pension Investment Board owned approximately 0.17% of Cohen & Steers worth $6,822,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Nisa Investment Advisors LLC grew its stake in shares of Cohen & Steers by 2.5% during the first quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager's stock worth $536,000 after purchasing an additional 165 shares during the period. Hunter Perkins Capital Management LLC grew its stake in shares of Cohen & Steers by 1.1% during the first quarter. Hunter Perkins Capital Management LLC now owns 16,469 shares of the asset manager's stock worth $1,322,000 after purchasing an additional 182 shares during the period. Covestor Ltd grew its stake in shares of Cohen & Steers by 12.8% during the first quarter. Covestor Ltd now owns 1,678 shares of the asset manager's stock worth $135,000 after purchasing an additional 191 shares during the period. Mendel Capital Management LLC grew its stake in shares of Cohen & Steers by 4.3% during the first quarter. Mendel Capital Management LLC now owns 4,775 shares of the asset manager's stock worth $383,000 after purchasing an additional 196 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Cohen & Steers by 4.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,609 shares of the asset manager's stock worth $450,000 after purchasing an additional 245 shares during the period. 51.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Bank of America decreased 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 equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $82.00.

Cohen & Steers Trading Up 0.5%

Shares of Cohen & Steers stock traded up $0.3850 during trading on Tuesday, reaching $74.5850. The stock had a trading volume of 145,901 shares, compared to its average volume of 209,702. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 2.54 and a beta of 1.38. The stock has a fifty day moving average price of $75.50 and a two-hundred day moving average price of $78.33. 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 results 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 firm had revenue of $135.32 million during the quarter, compared to the consensus estimate of $134.59 million. Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The business's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Monday, August 11th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 11th. 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.