Cohen & Steers Inc $CNS Shares Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its holdings in Cohen & Steers Inc by 35.7%, acquiring an additional 9,346 shares during the 1st quarter, bringing its total to 35,560 shares worth approximately $2.85 million.
• Bank of America downgraded its target price for Cohen & Steers from $67.00 to $66.00 and assigned an "underperform" rating, while the stock currently holds a consensus rating of "Hold" with an average target price of $82.00.
• Cohen & Steers announced a quarterly dividend of $0.62 per share, payable on August 21, representing an annualized yield of 3.4% and a payout ratio of 78.73%.

Quantbot Technologies LP lifted its holdings in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 35.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,560 shares of the asset manager's stock after acquiring an additional 9,346 shares during the period. Quantbot Technologies LP owned 0.07% of Cohen & Steers worth $2,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CNS. Northern Trust Corp increased its position in Cohen & Steers by 3.5% during the 1st quarter. Northern Trust Corp now owns 377,962 shares of the asset manager's stock worth $30,331,000 after purchasing an additional 12,812 shares during the period. Versor Investments LP boosted its holdings in Cohen & Steers by 40.4% during the first quarter. Versor Investments LP now owns 5,428 shares of the asset manager's stock worth $436,000 after buying an additional 1,561 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Cohen & Steers during the first quarter worth about $25,000. HighTower Advisors LLC increased its holdings in Cohen & Steers by 7.9% in the first quarter. HighTower Advisors LLC now owns 2,689 shares of the asset manager's stock valued at $216,000 after buying an additional 198 shares in the last quarter. Finally, Taylor Hoffman Capital Management LLC lifted its position in shares of Cohen & Steers by 1.3% during the 1st quarter. Taylor Hoffman Capital Management LLC now owns 60,950 shares of the asset manager's stock valued at $4,918,000 after acquiring an additional 760 shares during the period. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Stock Down 0.2%

Shares of CNS traded down $0.13 during trading hours on Tuesday, reaching $76.41. 185,943 shares of the company traded hands, compared to its average volume of 217,314. The stock has a market capitalization of $3.90 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The stock has a fifty day simple moving average of $75.36 and a 200 day simple moving average of $77.84. Cohen & Steers Inc has a fifty-two week low of $68.99 and a fifty-two week high of $110.67.

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

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a dividend of $0.62 per share. The ex-dividend date was Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a yield of 3.2%. Cohen & Steers's dividend payout ratio (DPR) is 78.73%.

Analysts Set New Price Targets

Separately, Bank of America lowered their price target on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating on the stock in a report on Monday, July 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $82.00.

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.