Strs Ohio Invests $867,000 in Cohen & Steers Inc $CNS

Key Points

• Strs Ohio has acquired a new position in Cohen & Steers Inc, purchasing 10,800 shares valued at approximately $867,000 during Q1.
• Analysts have revised their target prices for Cohen & Steers; Evercore ISI lowered its target from $79.00 to $77.00, while Bank of America reduced its target from $67.00 to $66.00.
• Cohen & Steers reported a quarterly EPS of $0.73, missing estimates of $0.75, despite a year-over-year revenue increase of 11.8% to $135.32 million.

Strs Ohio bought a new position in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,800 shares of the asset manager's stock, valued at approximately $867,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Cohen & Steers by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the asset manager's stock valued at $84,929,000 after buying an additional 53,876 shares in the last quarter. Congress Asset Management Co. lifted its holdings 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 purchasing an additional 128,315 shares during the period. Northern Trust Corp boosted its position in Cohen & Steers by 3.5% in the first 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 last quarter. Bank of America Corp DE raised its holdings in shares of Cohen & Steers by 26.9% during the 4th quarter. Bank of America Corp DE now owns 139,485 shares of the asset manager's stock valued at $12,880,000 after buying an additional 29,558 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Cohen & Steers by 2.3% during the first quarter. Principal Financial Group Inc. now owns 133,860 shares of the asset manager's stock valued at $10,742,000 after buying an additional 3,035 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Price Performance

Shares of NYSE CNS traded down $0.98 during mid-day trading on Friday, reaching $68.56. 520,851 shares of the company's stock were exchanged, compared to its average volume of 250,285. The firm has a 50-day moving average price of $73.57 and a two-hundred day moving average price of $76.08. Cohen & Steers Inc has a 52 week low of $68.31 and a 52 week high of $110.67. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.32 and a beta of 1.42.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its 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 company had revenue of $135.32 million during the quarter, compared to analysts' expectations of $134.59 million. Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The company's revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share.

Cohen & Steers Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 11th. Cohen & Steers's dividend payout ratio is currently 78.73%.

Wall Street Analyst Weigh In

CNS has been the subject of a number of recent research reports. Bank of America reduced their target price 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. Evercore ISI cut their price target on Cohen & Steers from $79.00 to $77.00 and set an "outperform" rating on the stock in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $81.67.

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.