Cohen & Steers Inc $CNS Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of Cohen & Steers Inc (NYSE:CNS) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,080 shares of the asset manager’s stock after purchasing an additional 1,232 shares during the period. State of Alaska Department of Revenue’s holdings in Cohen & Steers were worth $1,210,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CNS. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cohen & Steers during the first quarter worth $25,000. Geneos Wealth Management Inc. grew its holdings in shares of Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after buying an additional 297 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Cohen & Steers by 101.9% during the first quarter. Fifth Third Bancorp now owns 654 shares of the asset manager’s stock valued at $52,000 after buying an additional 330 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cohen & Steers by 36.1% during the first quarter. GAMMA Investing LLC now owns 992 shares of the asset manager’s stock valued at $80,000 after buying an additional 263 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Cohen & Steers during the first quarter valued at $110,000. 51.47% of the stock is owned by institutional investors and hedge funds.

Cohen & Steers Stock Performance

NYSE:CNS opened at $65.62 on Friday. The firm’s fifty day moving average is $71.77 and its two-hundred day moving average is $75.07. Cohen & Steers Inc has a one year low of $64.29 and a one year high of $110.67. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.22 and a beta of 1.38.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The firm had revenue of $135.32 million for the quarter, compared to analysts’ expectations of $134.59 million. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, August 11th. Cohen & Steers’s dividend payout ratio is presently 78.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CNS shares. Evercore ISI dropped their price objective on shares of Cohen & Steers from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a report on Saturday, September 27th. Finally, Bank of America boosted their price objective on shares of Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a report on Thursday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cohen & Steers currently has a consensus rating of “Hold” and an average target price of $82.33.

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.