Cohen & Steers Inc $CNS Stock Holdings Cut by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its holdings in Cohen & Steers Inc. by 11.8%, owning 427,115 shares valued at approximately $34.3 million after selling 57,361 shares in the first quarter.
• The asset manager reported $0.73 earnings per share for the last quarter, missing the consensus estimate, while its revenue increased by 11.8% year-over-year, totaling $135.32 million.
• Cohen & Steers recently announced a quarterly dividend of $0.62, resulting in a dividend yield of 3.3% with a payout ratio of 78.73%.

Raymond James Financial Inc. lowered its stake in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 11.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,115 shares of the asset manager's stock after selling 57,361 shares during the quarter. Raymond James Financial Inc. owned approximately 0.84% of Cohen & Steers worth $34,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CNS. Congress Asset Management Co. grew its position in shares of Cohen & Steers by 24.3% during the first quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock worth $52,676,000 after buying an additional 128,315 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cohen & Steers by 10,820.2% during the first quarter. GAMMA Investing LLC now owns 79,608 shares of the asset manager's stock worth $6,389,000 after buying an additional 78,879 shares in the last quarter. Nuveen LLC acquired a new position in Cohen & Steers in the first quarter worth $6,193,000. Charles Schwab Investment Management Inc. boosted its holdings in Cohen & Steers by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the asset manager's stock worth $84,929,000 after purchasing an additional 53,876 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in Cohen & Steers in the fourth quarter worth $4,923,000. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Stock Performance

Shares of CNS traded down $0.33 during midday trading on Friday, hitting $73.69. 474,067 shares of the 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 firm has a market capitalization of $3.76 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 2.51 and a beta of 1.38. The business's 50 day moving average price is $75.35 and its two-hundred day moving average price is $77.65.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS.

Cohen & Steers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 11th. Cohen & Steers's dividend payout ratio is currently 78.73%.

Analyst Ratings Changes

Separately, Bank of America decreased their price objective on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a report 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 data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $82.00.

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.