Teacher Retirement System of Texas Sells 8,135 Shares of Cohen & Steers Inc (NYSE:CNS)

Teacher Retirement System of Texas lowered its stake in Cohen & Steers Inc (NYSE:CNS - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,801 shares of the asset manager's stock after selling 8,135 shares during the quarter. Teacher Retirement System of Texas' holdings in Cohen & Steers were worth $1,027,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CNS. Raymond James Financial Inc. purchased a new stake in Cohen & Steers in the 4th quarter worth $44,737,000. Norges Bank purchased a new stake in Cohen & Steers in the 4th quarter worth $34,166,000. Congress Asset Management Co. lifted its stake in Cohen & Steers by 24.3% in the 1st 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cohen & Steers by 10,820.2% in the 1st 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Cohen & Steers by 87.5% in the 4th quarter. JPMorgan Chase & Co. now owns 163,924 shares of the asset manager's stock worth $15,137,000 after buying an additional 76,486 shares during the last quarter. Hedge funds and other institutional investors own 51.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Cohen & Steers in a report on Monday, June 30th. They issued an "underperform" rating and a $67.00 target price on the stock. Evercore ISI reduced their target price on shares of Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating on the stock in a report on Friday, April 11th.

Cohen & Steers Price Performance

Shares of Cohen & Steers stock traded down $0.34 during trading hours on Thursday, reaching $75.65. The company's stock had a trading volume of 370,461 shares, compared to its average volume of 203,556. The firm has a 50 day moving average price of $77.27 and a 200-day moving average price of $80.67. Cohen & Steers Inc has a one year low of $68.99 and a one year high of $110.67. The stock has a market cap of $3.86 billion, a P/E ratio of 24.72, a P/E/G ratio of 2.49 and a beta of 1.32.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.01). Cohen & Steers had a return on equity of 30.46% and a net margin of 29.68%. The business's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.48 annualized dividend and a yield of 3.28%. Cohen & Steers's payout ratio is 81.05%.

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.