The Manufacturers Life Insurance Company Acquires New Position in Cohen & Steers Inc $CNS

The Manufacturers Life Insurance Company bought a new position in Cohen & Steers Inc (NYSE:CNS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,927 shares of the asset manager's stock, valued at approximately $1,137,000.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its holdings in Cohen & Steers by 2.0% in the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager's stock worth $4,124,000 after acquiring an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cohen & Steers by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager's stock valued at $1,313,000 after acquiring an additional 716 shares during the period. Millennium Management LLC raised its stake in shares of Cohen & Steers by 485.1% in the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager's stock valued at $7,477,000 after acquiring an additional 77,251 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Cohen & Steers during the 1st quarter worth about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cohen & Steers by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager's stock valued at $5,838,000 after buying an additional 2,155 shares during the last quarter. 51.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the sale, the executive vice president owned 28,682 shares of the company's stock, valued at approximately $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the business's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the sale, the chief accounting officer directly owned 22,146 shares of the company's stock, valued at approximately $1,841,661.36. The trade was a 4.73% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 45.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings raised Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Evercore reissued an "outperform" rating and issued a $88.00 price objective on shares of Cohen & Steers in a research report on Monday, August 10th. Two investment analysts have 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $78.00.

Cohen & Steers Price Performance

Shares of CNS opened at $79.96 on Friday. The company's 50-day moving average is $81.00 and its 200-day moving average is $72.90. The firm has a market capitalization of $4.11 billion, a PE ratio of 24.53, a PEG ratio of 1.93 and a beta of 1.21. Cohen & Steers Inc has a fifty-two week low of $58.39 and a fifty-two week high of $86.56.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The company had revenue of $151.84 million during the quarter, compared to analyst estimates of $149.45 million. During the same quarter last year, the company posted $0.73 EPS. The firm's quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that Cohen & Steers Inc will post 3.53 earnings per share for the current fiscal year.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were paid a $0.67 dividend. The ex-dividend date was Monday, August 10th. This represents a $2.68 annualized dividend and a yield of 3.4%. Cohen & Steers's payout ratio is 82.21%.

Cohen & Steers Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).

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