Principal Financial Group Inc. grew its holdings in shares of Cohen & Steers Inc (NYSE:CNS) by 149.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,097 shares of the asset manager’s stock after acquiring an additional 15,051 shares during the quarter. Principal Financial Group Inc. owned about 0.05% of Cohen & Steers worth $1,017,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in Cohen & Steers in the 1st quarter worth approximately $103,000. Acadian Asset Management LLC bought a new stake in Cohen & Steers in the 2nd quarter worth approximately $140,000. BNP Paribas Arbitrage SA lifted its position in Cohen & Steers by 545.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,617 shares of the asset manager’s stock worth $147,000 after buying an additional 3,057 shares during the last quarter. Prudential Financial Inc. bought a new stake in Cohen & Steers in the 1st quarter worth approximately $205,000. Finally, UBS Asset Management Americas Inc. bought a new stake in Cohen & Steers in the 1st quarter worth approximately $212,000. Hedge funds and other institutional investors own 45.36% of the company’s stock.
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CNS has been the subject of a number of recent research reports. Zacks Investment Research upgraded Cohen & Steers from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Monday, July 3rd. BidaskClub downgraded Cohen & Steers from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.67.
Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Wednesday, July 19th. The asset manager reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. The business had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $92.52 million. Cohen & Steers had a return on equity of 33.17% and a net margin of 26.34%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, equities analysts predict that Cohen & Steers Inc will post $2.03 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, September 1st were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Wednesday, August 30th. Cohen & Steers’s dividend payout ratio is presently 54.37%.
In other Cohen & Steers news, insider John Todd Glickson sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $39.72, for a total transaction of $266,124.00. Following the completion of the transaction, the insider now owns 36,738 shares in the company, valued at approximately $1,459,233.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 52.90% of the company’s stock.
About Cohen & Steers
Cohen & Steers, Inc (CNS) is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors.
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