Gabelli Funds LLC Makes New Investment in Cohen & Steers Inc $CNS

Gabelli Funds LLC acquired a new position in shares of Cohen & Steers Inc (NYSE:CNS) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 137,995 shares of the asset manager’s stock, valued at approximately $8,663,000.

Several other large investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in shares of Cohen & Steers by 2.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,338 shares of the asset manager’s stock valued at $398,000 after acquiring an additional 176 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Cohen & Steers by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock valued at $1,497,000 after acquiring an additional 185 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Cohen & Steers by 0.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 30,194 shares of the asset manager’s stock valued at $2,276,000 after acquiring an additional 229 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Cohen & Steers by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 16,333 shares of the asset manager’s stock valued at $1,024,000 after acquiring an additional 231 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Cohen & Steers by 3.4% during the 3rd quarter. Amalgamated Bank now owns 7,980 shares of the asset manager’s stock valued at $524,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

Cohen & Steers Price Performance

Cohen & Steers stock opened at $71.75 on Wednesday. The firm has a 50-day moving average of $66.09 and a 200-day moving average of $65.36. Cohen & Steers Inc has a one year low of $58.39 and a one year high of $81.62. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 2.05 and a beta of 1.27.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Thursday, April 16th. The asset manager reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The business had revenue of $144.26 million for the quarter, compared to analyst estimates of $140.62 million. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Cohen & Steers Inc will post 3.38 earnings per share for the current year.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, May 11th. Cohen & Steers’s dividend payout ratio is currently 88.45%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research upgraded shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Evercore set a $76.00 target price on shares of Cohen & Steers in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $72.00.

Cohen & Steers 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).