Charles Schwab Investment Management Inc. Buys 18,537 Shares of Cohen & Steers Inc $CNS

Charles Schwab Investment Management Inc. lifted its stake in Cohen & Steers Inc (NYSE:CNS) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,076,846 shares of the asset manager’s stock after purchasing an additional 18,537 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.11% of Cohen & Steers worth $81,140,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cohen & Steers in the first quarter valued at $25,000. Geneos Wealth Management Inc. boosted its stake in shares of Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after purchasing an additional 297 shares during the period. New Age Alpha Advisors LLC bought a new position in Cohen & Steers during the 1st quarter valued at about $110,000. Covestor Ltd grew its holdings in Cohen & Steers by 12.8% during the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager’s stock valued at $135,000 after purchasing an additional 191 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Cohen & Steers in the 1st quarter worth about $172,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Cohen & Steers Stock Performance

Shares of NYSE:CNS opened at $63.25 on Friday. The firm’s 50 day simple moving average is $66.36 and its 200-day simple moving average is $72.11. Cohen & Steers Inc has a one year low of $58.80 and a one year high of $105.69. The firm has a market cap of $3.23 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, October 16th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The company had revenue of $140.94 million for the quarter, compared to analysts’ expectations of $138.84 million. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.Cohen & Steers’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 earnings per share.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, November 10th. This represents a $2.48 annualized dividend and a dividend yield of 3.9%. Cohen & Steers’s dividend payout ratio (DPR) is currently 77.74%.

Insider Activity at Cohen & Steers

In other news, Director Martin Cohen acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average cost of $59.69 per share, for a total transaction of $2,984,500.00. Following the completion of the acquisition, the director directly owned 899,205 shares of the company’s stock, valued at $53,673,546.45. The trade was a 5.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 100,000 shares of company stock worth $5,982,368 in the last 90 days. Company insiders own 47.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bank of America boosted their target price on Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Evercore ISI boosted their price objective on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cohen & Steers has a consensus rating of “Hold” and an average price target of $72.50.

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.