Cohen & Steers, Inc. (NYSE:CNS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Cohen & Steers, Inc. (NYSE:CNS) by 20.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,733 shares of the asset manager’s stock after selling 42,998 shares during the period. Russell Investments Group Ltd.’s holdings in Cohen & Steers were worth $12,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Signaturefd LLC raised its holdings in Cohen & Steers by 104.9% in the third quarter. Signaturefd LLC now owns 418 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 214 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Cohen & Steers in the fourth quarter valued at $142,000. Naples Global Advisors LLC acquired a new stake in shares of Cohen & Steers in the 4th quarter valued at about $215,000. Raymond James Financial Services Advisors Inc. acquired a new position in Cohen & Steers during the third quarter worth approximately $208,000. Finally, Raymond James Trust N.A. purchased a new stake in Cohen & Steers in the fourth quarter valued at approximately $258,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their target price on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research report on Friday, April 12th.

Insider Activity

In other Cohen & Steers news, Director Richard P. Simon sold 3,058 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $71.81, for a total value of $219,594.98. Following the completion of the sale, the director now owns 21,915 shares of the company’s stock, valued at $1,573,716.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Richard P. Simon sold 3,058 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $71.81, for a total transaction of $219,594.98. Following the sale, the director now owns 21,915 shares of the company’s stock, valued at approximately $1,573,716.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard P. Simon sold 6,942 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $71.76, for a total value of $498,157.92. Following the completion of the transaction, the director now directly owns 24,973 shares of the company’s stock, valued at $1,792,062.48. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $1,009,713 in the last three months. 47.60% of the stock is currently owned by company insiders.

Cohen & Steers Stock Performance

Shares of CNS opened at $70.57 on Friday. The firm has a 50-day simple moving average of $72.36 and a 200-day simple moving average of $67.35. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 27.46 and a beta of 1.45. Cohen & Steers, Inc. has a fifty-two week low of $50.05 and a fifty-two week high of $78.58.

Cohen & Steers (NYSE:CNS) last released its earnings results on Thursday, April 18th. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Cohen & Steers had a net margin of 26.27% and a return on equity of 36.96%. The company had revenue of $122.71 million during the quarter, compared to analyst estimates of $125.01 million. During the same period in the previous year, the firm posted $0.76 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Monday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, May 10th. This represents a $2.36 annualized dividend and a yield of 3.34%. Cohen & Steers’s dividend payout ratio is currently 91.83%.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.