Legal & General Group Plc Purchases Shares of 73,709 Cohen & Steers Inc $CNS

Legal & General Group Plc acquired a new position in Cohen & Steers Inc (NYSE:CNS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 73,709 shares of the asset manager’s stock, valued at approximately $5,612,000. Legal & General Group Plc owned 0.14% of Cohen & Steers at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its position in Cohen & Steers by 2.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,338 shares of the asset manager’s stock worth $398,000 after purchasing an additional 176 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Cohen & Steers by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock valued at $1,497,000 after buying an additional 185 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Cohen & Steers by 0.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 30,194 shares of the asset manager’s stock valued at $2,276,000 after buying an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Cohen & Steers by 88.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager’s stock worth $38,000 after acquiring an additional 287 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after acquiring an additional 297 shares during the period. 51.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNS. Evercore reissued an “outperform” rating and issued a $88.00 price target on shares of Cohen & Steers in a research report on Monday, August 10th. Weiss Ratings upgraded Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.00.

Cohen & Steers Stock Performance

Shares of NYSE:CNS opened at $78.89 on Friday. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $86.56. The company’s fifty day moving average is $80.97 and its 200-day moving average is $72.85. The company has a market capitalization of $4.06 billion, a PE ratio of 24.20, a P/E/G ratio of 1.88 and a beta of 1.21.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. On average, analysts forecast that Cohen & Steers Inc will post 3.53 EPS for the current year.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 10th. Cohen & Steers’s payout ratio is presently 82.21%.

Insider Buying and Selling

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the transaction, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $83.16, for a total value of $91,476.00. Following the completion of the transaction, the chief accounting officer directly owned 22,146 shares in the company, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 45.40% of the stock is owned by corporate insiders.

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).