Farther Finance Advisors LLC Raises Stake in Cohen & Steers, Inc. (NYSE:CNS)

Farther Finance Advisors LLC boosted its stake in Cohen & Steers, Inc. (NYSE:CNS) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 822 shares of the asset manager’s stock after acquiring an additional 119 shares during the period. Farther Finance Advisors LLC’s holdings in Cohen & Steers were worth $79,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNS. Silvercrest Asset Management Group LLC bought a new stake in shares of Cohen & Steers in the 1st quarter worth approximately $5,193,000. Sei Investments Co. increased its position in Cohen & Steers by 17.0% in the first quarter. Sei Investments Co. now owns 265,608 shares of the asset manager’s stock worth $20,423,000 after buying an additional 38,620 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Cohen & Steers by 292.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,236 shares of the asset manager’s stock valued at $888,000 after buying an additional 9,119 shares during the last quarter. Creative Planning lifted its position in shares of Cohen & Steers by 9.5% during the 2nd quarter. Creative Planning now owns 11,940 shares of the asset manager’s stock valued at $866,000 after buying an additional 1,034 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Cohen & Steers by 101.6% during the 2nd quarter. Rhumbline Advisers now owns 77,146 shares of the asset manager’s stock valued at $5,598,000 after buying an additional 38,887 shares during the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Cohen & Steers Stock Performance

Shares of CNS opened at $102.19 on Wednesday. Cohen & Steers, Inc. has a 52-week low of $51.79 and a 52-week high of $110.67. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 38.13 and a beta of 1.53. The stock’s 50-day simple moving average is $96.52 and its 200 day simple moving average is $83.55.

Cohen & Steers (NYSE:CNS) last released its earnings results on Wednesday, October 16th. The asset manager reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Cohen & Steers had a return on equity of 34.43% and a net margin of 27.23%. The business had revenue of $133.20 million for the quarter, compared to analysts’ expectations of $124.18 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis.

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, November 18th. Cohen & Steers’s dividend payout ratio (DPR) is 88.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CNS shares. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $63.00 to $102.00 in a research note on Thursday, October 17th. Evercore ISI raised their price objective on shares of Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

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.