Cohen & Steers, Inc. (NYSE:CNS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of Cohen & Steers, Inc. (NYSE:CNS) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,733 shares of the asset manager’s stock after selling 847 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cohen & Steers were worth $1,606,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Associated Banc Corp purchased a new stake in Cohen & Steers during the 3rd quarter worth about $243,000. Horizon Kinetics Asset Management LLC grew its holdings in shares of Cohen & Steers by 4.0% during the third quarter. Horizon Kinetics Asset Management LLC now owns 4,478 shares of the asset manager’s stock worth $430,000 after buying an additional 172 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Cohen & Steers in the third quarter valued at approximately $615,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Cohen & Steers by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 951,587 shares of the asset manager’s stock valued at $91,305,000 after buying an additional 52,103 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Cohen & Steers during the third quarter worth approximately $629,000. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Stock Performance

Shares of CNS stock opened at $99.63 on Wednesday. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 37.17 and a beta of 1.52. Cohen & Steers, Inc. has a one year low of $63.13 and a one year high of $110.67. The company has a 50 day moving average price of $100.27 and a 200 day moving average price of $87.84.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Wednesday, October 16th. The asset manager reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Cohen & Steers had a return on equity of 32.75% and a net margin of 27.23%. The business had revenue of $133.20 million during the quarter, compared to the consensus estimate of $124.18 million. During the same period in the prior year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.37%. Cohen & Steers’s dividend payout ratio (DPR) is 88.06%.

Analyst Ratings Changes

CNS has been the subject of several analyst reports. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $102.00 in a report on Thursday, October 17th. Evercore ISI increased their target price on Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a research 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.