Vanguard Group Inc. Lowers Holdings in Cohen & Steers Inc $CNS

Key Points

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Vanguard Group Inc. lowered its stake in Cohen & Steers Inc (NYSE:CNS - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,265,927 shares of the asset manager's stock after selling 53,746 shares during the period. Vanguard Group Inc. owned approximately 6.41% of Cohen & Steers worth $262,091,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cohen & Steers in the fourth quarter worth about $60,000. Fifth Third Bancorp grew its position in Cohen & Steers by 101.9% in the first quarter. Fifth Third Bancorp now owns 654 shares of the asset manager's stock worth $52,000 after acquiring an additional 330 shares in the last quarter. GAMMA Investing LLC grew its position in Cohen & Steers by 36.1% in the first quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock worth $80,000 after acquiring an additional 263 shares in the last quarter. Johnson Financial Group Inc. grew its position in Cohen & Steers by 926.0% in the fourth quarter. Johnson Financial Group Inc. now owns 1,026 shares of the asset manager's stock worth $91,000 after acquiring an additional 926 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Cohen & Steers in the first quarter worth about $110,000. Hedge funds and other institutional investors own 51.47% of the company's stock.

Cohen & Steers Price Performance

Shares of NYSE:CNS traded up $4.4010 during trading hours on Friday, hitting $76.2510. 352,319 shares of the company's stock traded hands, compared to its average volume of 203,701. Cohen & Steers Inc has a 1 year low of $68.99 and a 1 year high of $110.67. The business has a fifty day moving average price of $75.29 and a 200-day moving average price of $78.02. The firm has a market capitalization of $3.89 billion, a P/E ratio of 24.21, 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 earnings per share (EPS) 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 business had revenue of $135.32 million for the quarter, compared to analysts' expectations of $134.59 million. During the same quarter last year, the firm earned $0.68 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were issued a $0.62 dividend. The ex-dividend date was Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.3%. Cohen & Steers's payout ratio is presently 78.73%.

Analyst Upgrades and Downgrades

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 research report on Monday, July 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cohen & Steers currently has a consensus rating of "Hold" and an average price target of $82.00.

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.