Cohen & Steers, Inc. (NYSE:CNS) Stake Cut by Wasatch Advisors LP

Wasatch Advisors LP reduced its holdings in Cohen & Steers, Inc. (NYSE:CNS) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,031,839 shares of the asset manager’s stock after selling 82,469 shares during the period. Cohen & Steers comprises about 1.4% of Wasatch Advisors LP’s holdings, making the stock its 19th largest holding. Wasatch Advisors LP owned approximately 6.00% of Cohen & Steers worth $290,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Cohen & Steers by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,176,861 shares of the asset manager’s stock worth $85,390,000 after purchasing an additional 35,905 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Cohen & Steers by 1.0% during the 3rd quarter. Copeland Capital Management LLC now owns 1,091,097 shares of the asset manager’s stock worth $104,691,000 after purchasing an additional 10,420 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cohen & Steers by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 951,587 shares of the asset manager’s stock worth $91,305,000 after purchasing an additional 52,103 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Cohen & Steers by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 937,797 shares of the asset manager’s stock worth $68,047,000 after purchasing an additional 9,960 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Cohen & Steers by 20.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,835 shares of the asset manager’s stock worth $46,934,000 after purchasing an additional 111,649 shares in the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNS has been the subject of a number of recent research reports. UBS Group raised 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 note on Thursday, October 17th. Evercore ISI raised their price target on Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Cohen & Steers Stock Performance

Shares of NYSE CNS opened at $104.66 on Friday. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 39.05 and a beta of 1.53. The business’s 50-day simple moving average is $99.27 and its 200-day simple moving average is $86.00. Cohen & Steers, Inc. has a 52 week low of $58.18 and a 52 week high of $110.67.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Wednesday, October 16th. The asset manager reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $133.20 million for the quarter, compared to analyst estimates of $124.18 million. Cohen & Steers had a return on equity of 32.75% and a net margin of 27.23%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, November 18th. Cohen & Steers’s dividend payout ratio (DPR) is currently 88.06%.

About Cohen & Steers

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.