Victory Capital Management Inc. Cuts Stock Position in Cohen & Steers Inc $CNS

Victory Capital Management Inc. decreased its holdings in shares of Cohen & Steers Inc (NYSE:CNS) by 40.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 604,463 shares of the asset manager’s stock after selling 404,083 shares during the quarter. Victory Capital Management Inc. owned about 1.19% of Cohen & Steers worth $39,659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CNS. Norges Bank purchased a new position in Cohen & Steers in the second quarter valued at about $27,880,000. Wasatch Advisors LP boosted its position in shares of Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after buying an additional 323,759 shares during the period. Bourgeon Capital Management LLC acquired a new stake in shares of Cohen & Steers in the third quarter valued at about $9,554,000. Balyasny Asset Management L.P. grew its stake in shares of Cohen & Steers by 107.4% in the second quarter. Balyasny Asset Management L.P. now owns 190,077 shares of the asset manager’s stock valued at $14,322,000 after buying an additional 98,431 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Cohen & Steers by 485.1% during the 1st quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock valued at $7,477,000 after buying an additional 77,251 shares during the period. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Price Performance

NYSE:CNS opened at $65.10 on Friday. The firm has a 50-day moving average of $66.06 and a two-hundred day moving average of $66.66. The stock has a market cap of $3.35 billion, a P/E ratio of 21.85, a PEG ratio of 1.93 and a beta of 1.26. Cohen & Steers Inc has a 1-year low of $58.39 and a 1-year high of $88.49.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Thursday, January 22nd. The asset manager reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Cohen & Steers had a return on equity of 28.46% and a net margin of 27.55%.The business had revenue of $143.79 million for the quarter, compared to analyst estimates of $144.30 million. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year.

Cohen & Steers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, March 9th. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.62. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.1%. Cohen & Steers’s dividend payout ratio is 83.22%.

Insider Buying and Selling at Cohen & Steers

In other news, EVP Francis C. Poli sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $65.73, for a total value of $657,300.00. Following the completion of the sale, the executive vice president owned 55,675 shares of the company’s stock, valued at approximately $3,659,517.75. The trade was a 15.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 47.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CNS shares. Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday, January 21st. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $72.50.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).