The Manufacturers Life Insurance Company Acquires New Position in Cohen & Steers Inc $CNS

The Manufacturers Life Insurance Company bought a new position in Cohen & Steers Inc (NYSE:CNS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,927 shares of the asset manager’s stock, valued at approximately $1,137,000.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its holdings in Cohen & Steers by 2.0% in the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager’s stock worth $4,124,000 after acquiring an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cohen & Steers by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager’s stock valued at $1,313,000 after acquiring an additional 716 shares during the period. Millennium Management LLC raised its stake in shares of Cohen & Steers by 485.1% in the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock valued at $7,477,000 after acquiring an additional 77,251 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Cohen & Steers during the 1st quarter worth about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cohen & Steers by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager’s stock valued at $5,838,000 after buying an additional 2,155 shares during the last quarter. 51.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction of $337,158.80. Following the completion of the sale, the executive vice president owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the sale, the chief accounting officer directly owned 22,146 shares of the company’s stock, valued at approximately $1,841,661.36. The trade was a 4.73% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 45.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings raised Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Evercore reissued an “outperform” rating and issued a $88.00 price objective on shares of Cohen & Steers in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.00.

Cohen & Steers Price Performance

Shares of CNS opened at $79.96 on Friday. The company’s 50-day moving average is $81.00 and its 200-day moving average is $72.90. The firm has a market capitalization of $4.11 billion, a PE ratio of 24.53, a PEG ratio of 1.93 and a beta of 1.21. Cohen & Steers Inc has a fifty-two week low of $58.39 and a fifty-two week high of $86.56.

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

Cohen & Steers Announces Dividend

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

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).