Russell Investments Group Ltd. Decreases Stock Position in Cohen & Steers Inc $CNS

Key Points

• Russell Investments Group Ltd. reduced its stake in Cohen & Steers Inc by 8.1%, now holding 43,236 shares valued at approximately $3.47 million.
• Several other institutional investors have adjusted their positions in Cohen & Steers, with Fifth Third Bancorp increasing its holdings by 101.9% in the first quarter.
• Cohen & Steers announced a quarterly dividend of $0.62 per share, resulting in an annualized yield of 3.3%.

Russell Investments Group Ltd. trimmed its position in Cohen & Steers Inc (NYSE:CNS - Free Report) by 8.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,236 shares of the asset manager's stock after selling 3,786 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Cohen & Steers worth $3,470,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. HighTower Advisors LLC boosted 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 acquiring an additional 198 shares during the last quarter. Taylor Hoffman Capital Management LLC raised its position in Cohen & Steers by 1.3% in 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 buying an additional 760 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Cohen & Steers by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 85,012 shares of the asset manager's stock valued at $6,822,000 after purchasing an additional 18,226 shares in the last quarter. Nuveen LLC bought a new position in Cohen & Steers in the first quarter valued at approximately $6,193,000. Finally, Entropy Technologies LP bought a new position in shares of Cohen & Steers during the 1st quarter worth approximately $441,000. 51.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Cohen & Steers Trading Down 2.4%

CNS traded down $1.81 on Thursday, reaching $73.56. The stock had a trading volume of 197,118 shares, compared to its average volume of 212,331. The firm has a 50-day moving average of $75.38 and a 200-day moving average of $77.83. Cohen & Steers Inc has a fifty-two week low of $68.99 and a fifty-two week high of $110.67. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its earnings results on Thursday, July 17th. The asset manager reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $135.32 million for 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 firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $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 issued 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 (DPR) 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.