Cohen & Steers Inc (NYSE:CNS) Shares Acquired by Royce & Associates LP

Key Points

• Royce & Associates LP has increased its stake in Cohen & Steers Inc by 65%, now holding 15,886 shares worth approximately $1.27 million.
• The company reported a Q2 EPS of $0.73, missing the consensus estimate of $0.75, despite achieving a revenue of $135.32 million.
• A quarterly dividend of $0.62 per share was declared, representing an annualized amount of $2.48 and a dividend yield of 3.34%.

Royce & Associates LP increased its position in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 65.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,886 shares of the asset manager's stock after buying an additional 6,258 shares during the period. Royce & Associates LP's holdings in Cohen & Steers were worth $1,275,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pillar Financial Advisors LLC grew its stake in Cohen & Steers by 125.0% in the first quarter. Pillar Financial Advisors LLC now owns 14,008 shares of the asset manager's stock valued at $1,124,000 after purchasing an additional 7,781 shares during the last quarter. Norges Bank purchased a new position in Cohen & Steers in the fourth quarter valued at about $34,166,000. Oppenheimer Asset Management Inc. grew its stake in Cohen & Steers by 21.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 28,903 shares of the asset manager's stock valued at $2,319,000 after purchasing an additional 5,037 shares during the last quarter. GAMMA Investing LLC grew its stake in Cohen & Steers by 36.1% in the first quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock valued at $80,000 after purchasing an additional 263 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Cohen & Steers in the fourth quarter valued at about $536,000. Hedge funds and other institutional investors own 51.47% of the company's stock.

Cohen & Steers Price Performance

NYSE:CNS traded down $1.06 during trading hours on Friday, reaching $72.51. The company had a trading volume of 50,907 shares, compared to its average volume of 209,779. Cohen & Steers Inc has a 1-year low of $68.99 and a 1-year high of $110.67. The firm has a market cap of $3.70 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.38 and a beta of 1.32. The business's 50 day moving average price is $75.99 and its 200-day moving average price is $79.62.

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 analysts' consensus estimates of $0.75 by ($0.02). Cohen & Steers had a net margin of 29.82% and a return on equity of 30.36%. The company 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 earnings per share. The company's revenue was up 11.8% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Monday, August 11th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.4%. Cohen & Steers's payout ratio is 78.73%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNS. Evercore ISI cut their target price on Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Bank of America cut their target price on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating on the stock in a research note on Monday, July 21st.

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.