Lord Abbett & CO. LLC Decreases Position in Cohen & Steers, Inc. (NYSE:CNS)

Lord Abbett & CO. LLC lowered its position in shares of Cohen & Steers, Inc. (NYSE:CNS - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 225,000 shares of the asset manager's stock after selling 25,000 shares during the period. Lord Abbett & CO. LLC owned about 0.45% of Cohen & Steers worth $20,777,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CNS. Raymond James Financial Inc. purchased a new stake in shares of Cohen & Steers during the 4th quarter worth $44,737,000. Norges Bank bought a new stake in shares of Cohen & Steers in the 4th quarter valued at about $34,166,000. Congress Asset Management Co. grew its position in shares of Cohen & Steers by 22.0% in the 4th quarter. Congress Asset Management Co. now owns 528,082 shares of the asset manager's stock worth $48,763,000 after buying an additional 95,185 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Cohen & Steers by 1,460.1% during the 4th quarter. Fisher Asset Management LLC now owns 99,974 shares of the asset manager's stock worth $9,232,000 after acquiring an additional 93,566 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Cohen & Steers by 87.5% during the fourth quarter. JPMorgan Chase & Co. now owns 163,924 shares of the asset manager's stock valued at $15,137,000 after acquiring an additional 76,486 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Stock Up 0.6 %

Shares of Cohen & Steers stock traded up $0.47 during midday trading on Thursday, hitting $76.79. The company had a trading volume of 188,877 shares, compared to its average volume of 203,904. The company has a fifty day simple moving average of $78.67 and a 200 day simple moving average of $89.45. Cohen & Steers, Inc. has a 12-month low of $67.09 and a 12-month high of $110.67. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 25.86 and a beta of 1.46.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The asset manager reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.01). Cohen & Steers had a return on equity of 33.13% and a net margin of 29.24%. The business had revenue of $133.79 million during the quarter, compared to analyst estimates of $130.64 million. During the same quarter in the previous year, the company earned $0.68 EPS.

Cohen & Steers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, March 3rd were paid a $0.62 dividend. This is a boost from Cohen & Steers's previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, March 3rd. Cohen & Steers's payout ratio is currently 81.05%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI reduced their price target on Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th.

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.