Bank of America Corp DE Has $12.88 Million Stake in Cohen & Steers, Inc. (NYSE:CNS)

Bank of America Corp DE boosted its position in Cohen & Steers, Inc. (NYSE:CNS) by 26.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,485 shares of the asset manager’s stock after buying an additional 29,558 shares during the period. Bank of America Corp DE owned approximately 0.28% of Cohen & Steers worth $12,880,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Cohen & Steers by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,319,673 shares of the asset manager’s stock valued at $306,539,000 after buying an additional 22,012 shares during the period. Copeland Capital Management LLC raised its holdings in shares of Cohen & Steers by 0.5% during the fourth quarter. Copeland Capital Management LLC now owns 1,096,400 shares of the asset manager’s stock valued at $101,242,000 after purchasing an additional 5,303 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Cohen & Steers by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,004,433 shares of the asset manager’s stock valued at $92,749,000 after purchasing an additional 52,846 shares during the period. Invesco Ltd. raised its holdings in shares of Cohen & Steers by 5.8% during the fourth quarter. Invesco Ltd. now owns 883,805 shares of the asset manager’s stock valued at $81,611,000 after purchasing an additional 48,683 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Cohen & Steers by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 724,849 shares of the asset manager’s stock valued at $66,946,000 after purchasing an additional 15,526 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

Cohen & Steers Trading Down 2.1%

Shares of NYSE CNS opened at $76.08 on Friday. The firm’s 50-day moving average price is $77.55 and its 200-day moving average price is $87.12. Cohen & Steers, Inc. has a 1-year low of $67.09 and a 1-year high of $110.67. The firm has a market capitalization of $3.88 billion, a P/E ratio of 25.62 and a beta of 1.39.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Wednesday, April 16th. The asset manager reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01). Cohen & Steers had a net margin of 29.24% and a return on equity of 33.13%. The company had revenue of $133.79 million for the quarter, compared to analyst estimates of $130.64 million. During the same quarter in the prior year, the company posted $0.68 EPS.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, May 12th. Cohen & Steers’s payout ratio is presently 81.05%.

Analysts Set New Price Targets

Separately, Evercore ISI dropped their price objective on shares of Cohen & Steers from $94.00 to $78.00 and set an “outperform” rating on the stock in a report on Friday, April 11th.

Cohen & Steers Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.