Principal Financial Group Inc. reduced its position in Cohen & Steers, Inc. (NYSE:CNS – Free Report) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,990 shares of the asset manager’s stock after selling 3,784 shares during the quarter. Principal Financial Group Inc.’s holdings in Cohen & Steers were worth $12,185,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Cohen & Steers in the third quarter worth approximately $31,000. Westside Investment Management Inc. bought a new stake in shares of Cohen & Steers in the 3rd quarter worth approximately $32,000. GAMMA Investing LLC boosted its stake in shares of Cohen & Steers by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 610 shares of the asset manager’s stock valued at $59,000 after purchasing an additional 240 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Cohen & Steers by 19.8% during the 3rd quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 107 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Cohen & Steers by 16.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after purchasing an additional 119 shares during the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.
Cohen & Steers Stock Down 1.3 %
CNS opened at $93.35 on Monday. Cohen & Steers, Inc. has a 52 week low of $64.13 and a 52 week high of $110.67. The stock has a market cap of $4.72 billion, a PE ratio of 34.83 and a beta of 1.52. The business has a 50 day moving average of $100.06 and a 200-day moving average of $90.04.
Cohen & Steers (NYSE:CNS – Get Free Report) last released its earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Cohen & Steers had a net margin of 27.23% and a return on equity of 32.75%. The firm had revenue of $133.20 million during the quarter, compared to analyst estimates of $124.18 million. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis.
Cohen & Steers Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Monday, November 18th. Cohen & Steers’s payout ratio is currently 88.06%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CNS. Evercore ISI raised their price objective on Cohen & Steers from $110.00 to $111.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and raised their price target for the stock from $63.00 to $102.00 in a research report on Thursday, October 17th.
Get Our Latest Report on CNS
About Cohen & Steers
(Free Report)
Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.
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