Edgestream Partners L.P. Increases Stock Holdings in Cohen & Steers Inc $CNS

Edgestream Partners L.P. increased its position in shares of Cohen & Steers Inc (NYSE:CNS) by 316.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,839 shares of the asset manager’s stock after purchasing an additional 62,201 shares during the period. Edgestream Partners L.P. owned 0.16% of Cohen & Steers worth $6,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CNS. Covestor Ltd grew its stake in shares of Cohen & Steers by 12.8% in the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager’s stock valued at $135,000 after buying an additional 191 shares during the period. HighTower Advisors LLC lifted its holdings in Cohen & Steers by 7.9% in the first quarter. HighTower Advisors LLC now owns 2,689 shares of the asset manager’s stock valued at $216,000 after acquiring an additional 198 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Cohen & Steers by 1.1% in the second quarter. Harbor Capital Advisors Inc. now owns 23,629 shares of the asset manager’s stock valued at $1,780,000 after acquiring an additional 254 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after acquiring an additional 297 shares during the period. Finally, KLP Kapitalforvaltning AS increased its stake in Cohen & Steers by 5.2% during the second quarter. KLP Kapitalforvaltning AS now owns 6,100 shares of the asset manager’s stock worth $460,000 after acquiring an additional 300 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Stock Up 0.3%

NYSE:CNS opened at $61.88 on Wednesday. The company has a fifty day simple moving average of $66.14 and a two-hundred day simple moving average of $71.74. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.60 and a beta of 1.29. Cohen & Steers Inc has a 52 week low of $58.80 and a 52 week high of $104.80.

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, beating the consensus estimate of $0.78 by $0.03. The business 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 29.40% and a net margin of 29.73%.The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, November 10th. Cohen & Steers’s dividend payout ratio is presently 77.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America increased their price target on Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Evercore ISI increased their target price on shares of Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.50.

Insiders Place Their Bets

In other news, Director Martin Cohen acquired 12,708 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $60.83 per share, with a total value of $773,027.64. Following the transaction, the director owned 949,205 shares in the company, valued at approximately $57,740,140.15. This trade represents a 1.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 100,000 shares of company stock valued at $5,982,368 over the last 90 days. 45.60% of the stock is owned by company insiders.

Cohen & Steers Company 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.