Victory Capital Management Inc. boosted its stake in Cohen & Steers Inc. (NYSE:CNS) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 12,630 shares of the company’s stock after buying an additional 1,888 shares during the period. Victory Capital Management Inc.’s holdings in Cohen & Steers were worth $511,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CNS. BlackRock Institutional Trust Company N.A. raised its position in shares of Cohen & Steers by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 584,132 shares of the company’s stock valued at $22,734,000 after buying an additional 19,425 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Cohen & Steers by 286.4% in the first quarter. Goldman Sachs Group Inc. now owns 176,630 shares of the company’s stock valued at $6,875,000 after buying an additional 130,920 shares during the last quarter. Aperio Group LLC increased its stake in Cohen & Steers by 1.6% in the first quarter. Aperio Group LLC now owns 7,546 shares of the company’s stock valued at $294,000 after buying an additional 118 shares during the last quarter. Renaissance Technologies LLC increased its stake in Cohen & Steers by 6.0% in the first quarter. Renaissance Technologies LLC now owns 536,200 shares of the company’s stock valued at $20,869,000 after buying an additional 30,300 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in Cohen & Steers by 2.7% in the first quarter. OLD National Bancorp IN now owns 7,125 shares of the company’s stock valued at $277,000 after buying an additional 187 shares during the last quarter. 44.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Cohen & Steers Inc. (NYSE:CNS) traded down 0.21% during mid-day trading on Friday, reaching $42.75. The company’s stock had a trading volume of 29,923 shares. Cohen & Steers Inc. has a one year low of $25.84 and a one year high of $43.83. The firm’s 50 day moving average is $42.39 and its 200 day moving average is $40.42. The firm has a market cap of $1.96 billion, a PE ratio of 29.04 and a beta of 1.30.
Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, July 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Cohen & Steers had a net margin of 20.12% and a return on equity of 30.80%. The business had revenue of $86.40 million for the quarter, compared to analysts’ expectations of $86.12 million. During the same quarter last year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Cohen & Steers Inc. will post $1.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.04 annualized dividend and a dividend yield of 2.43%. Cohen & Steers’s dividend payout ratio (DPR) is presently 73.24%.
Several research firms recently weighed in on CNS. Zacks Investment Research upgraded Cohen & Steers from a “sell” rating to a “hold” rating and set a $47.00 price target on the stock in a research note on Tuesday, September 20th. Credit Suisse Group AG set a $42.00 price target on Cohen & Steers and gave the stock a “hold” rating in a research note on Sunday, September 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Cohen & Steers presently has an average rating of “Buy” and an average target price of $44.25.
About Cohen & Steers
Cohen & Steers, Inc 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 around the world.
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