Townsquare Capital LLC Purchases 3,816 Shares of Cohen & Steers Inc (NYSE:CNS)

Key Points

• Townsquare Capital LLC increased its stake in Cohen & Steers Inc by 11.8%, now holding 36,072 shares valued at approximately $2.9 million.
• Cohen & Steers' latest quarterly earnings revealed an EPS of $0.73, slightly below the consensus estimate of $0.75, although revenue was up 11.8% year-over-year.
• The company plans to issue a quarterly dividend of $0.62, resulting in an annualized yield of 3.4% with a payout ratio of 78.73%.

Townsquare Capital LLC lifted its holdings in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,072 shares of the asset manager's stock after buying an additional 3,816 shares during the period. Townsquare Capital LLC owned about 0.07% of Cohen & Steers worth $2,895,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Cohen & Steers by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the asset manager's stock worth $84,929,000 after purchasing an additional 53,876 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Cohen & Steers in the 1st quarter worth about $110,000. Jefferies Financial Group Inc. acquired a new position in Cohen & Steers in the 1st quarter worth about $707,000. XTX Topco Ltd increased its holdings in Cohen & Steers by 184.3% in the 1st quarter. XTX Topco Ltd now owns 9,281 shares of the asset manager's stock worth $745,000 after purchasing an additional 6,016 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Cohen & Steers by 65.0% in the 1st quarter. Royce & Associates LP now owns 15,886 shares of the asset manager's stock worth $1,275,000 after purchasing an additional 6,258 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company's stock.

Analysts Set New Price Targets

Separately, Bank of America lowered their target price on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a report on Monday, July 21st.

Cohen & Steers Stock Performance

Shares of CNS stock traded down $1.87 on Friday, hitting $74.76. The company had a trading volume of 92,107 shares, compared to its average volume of 210,137. The firm has a market cap of $3.81 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.52 and a beta of 1.38. The stock's 50-day moving average is $75.58 and its two-hundred day moving average is $78.68. Cohen & Steers Inc has a twelve month low of $68.99 and a twelve month high of $110.67.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. 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 company posted $0.68 EPS. The company's quarterly revenue was up 11.8% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Monday, August 11th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, August 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.3%. Cohen & Steers's dividend payout ratio is presently 78.73%.

Cohen & Steers Company 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.