Cohen & Steers Inc $CNS Shares Sold by Vanguard Group Inc.

Key Points

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

Other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in shares of Cohen & Steers during the 1st quarter worth approximately $110,000. Jefferies Financial Group Inc. acquired a new position in Cohen & Steers during the first quarter worth $707,000. XTX Topco Ltd raised its position in Cohen & Steers by 184.3% in the first quarter. XTX Topco Ltd now owns 9,281 shares of the asset manager's stock worth $745,000 after acquiring an additional 6,016 shares in the last quarter. Royce & Associates LP lifted its holdings in Cohen & Steers by 65.0% in the first quarter. Royce & Associates LP now owns 15,886 shares of the asset manager's stock valued at $1,275,000 after acquiring an additional 6,258 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Cohen & Steers during the 1st quarter worth $584,000. 51.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Bank of America cut their price target 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. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cohen & Steers currently has an average rating of "Hold" and a consensus target price of $82.00.

Cohen & Steers Trading Up 5.9%

Shares of CNS stock traded up $4.26 during mid-day trading on Friday, reaching $76.11. The stock had a trading volume of 235,244 shares, compared to its average volume of 211,221. Cohen & Steers Inc has a 12-month low of $68.99 and a 12-month high of $110.67. The business has a 50-day simple moving average of $75.28 and a 200 day simple moving average of $78.17. The company has a market cap of $3.88 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 2.48 and a beta of 1.38.

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 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 business posted $0.68 earnings per share. The business's revenue was up 11.8% compared to the same quarter last year.

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 given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 11th. Cohen & Steers's dividend payout ratio is currently 78.73%.

About Cohen & Steers

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.