Cohen & Steers Inc (NYSE:CNS) Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Cohen & Steers Inc (NYSE:CNS) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 404,651 shares of the asset manager’s stock after selling 46,727 shares during the period. Bank of New York Mellon Corp owned approximately 0.79% of Cohen & Steers worth $32,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CNS. Raymond James Financial Inc. purchased a new stake in Cohen & Steers in the 4th quarter worth approximately $44,737,000. Norges Bank bought a new position in Cohen & Steers during the 4th quarter valued at about $34,166,000. Congress Asset Management Co. lifted its holdings in Cohen & Steers by 24.3% during the 1st quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager’s stock valued at $52,676,000 after purchasing an additional 128,315 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cohen & Steers by 10,820.2% during the 1st quarter. GAMMA Investing LLC now owns 79,608 shares of the asset manager’s stock valued at $6,389,000 after purchasing an additional 78,879 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Cohen & Steers by 87.5% in the fourth quarter. JPMorgan Chase & Co. now owns 163,924 shares of the asset manager’s stock worth $15,137,000 after acquiring an additional 76,486 shares during the last quarter. Institutional investors own 51.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNS. Bank of America began coverage on shares of Cohen & Steers in a report on Monday, June 30th. They issued an “underperform” rating and a $67.00 price target for the company. Evercore ISI decreased 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 Trading Down 3.6%

Shares of CNS stock opened at $74.31 on Wednesday. The stock has a market cap of $3.79 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.53 and a beta of 1.32. The company’s fifty day moving average price is $77.39 and its 200-day moving average price is $80.82. Cohen & Steers Inc has a 12 month low of $68.99 and a 12 month high of $110.67.

Cohen & Steers (NYSE:CNS) last released its earnings results on Wednesday, April 16th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). Cohen & Steers had a return on equity of 30.46% and a net margin of 29.68%. The firm had revenue of $133.79 million during the quarter, compared to analysts’ expectations of $130.64 million. During the same period in the prior year, the company posted $0.68 earnings per share.

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a $0.62 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.48 annualized dividend and a dividend yield of 3.34%. Cohen & Steers’s payout ratio is currently 81.05%.

About Cohen & Steers

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.