Bourgeon Capital Management LLC Takes $9.55 Million Position in Cohen & Steers Inc $CNS

Bourgeon Capital Management LLC purchased a new stake in Cohen & Steers Inc (NYSE:CNS) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 145,615 shares of the asset manager’s stock, valued at approximately $9,554,000. Cohen & Steers makes up approximately 1.7% of Bourgeon Capital Management LLC’s portfolio, making the stock its 28th largest holding. Bourgeon Capital Management LLC owned approximately 0.29% of Cohen & Steers as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CNS. Norges Bank bought a new stake in Cohen & Steers in the 2nd quarter valued at about $27,880,000. Wasatch Advisors LP raised its position in shares of Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock valued at $185,790,000 after buying an additional 323,759 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Cohen & Steers by 107.4% in the second quarter. Balyasny Asset Management L.P. now owns 190,077 shares of the asset manager’s stock valued at $14,322,000 after buying an additional 98,431 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Cohen & Steers in the first quarter valued at approximately $7,222,000. Finally, Millennium Management LLC grew its position in Cohen & Steers by 485.1% during the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock worth $7,477,000 after buying an additional 77,251 shares in the last quarter. 51.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNS. Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, October 8th. Evercore ISI increased their target price on Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, Bank of America boosted their price target on Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cohen & Steers currently has a consensus rating of “Hold” and an average target price of $72.50.

Insider Buying and Selling at Cohen & Steers

In related news, Director Martin Cohen purchased 12,708 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 949,205 shares of the company’s stock, valued at $57,740,140.15. This trade represents a 1.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have purchased 100,000 shares of company stock valued at $5,982,368. Company insiders own 47.60% of the company’s stock.

Cohen & Steers Price Performance

NYSE CNS opened at $63.55 on Friday. The business has a fifty day moving average price of $64.05 and a two-hundred day moving average price of $69.54. The stock has a market capitalization of $3.24 billion, a PE ratio of 19.92, a PEG ratio of 1.93 and a beta of 1.29. Cohen & Steers Inc has a fifty-two week low of $58.39 and a fifty-two week high of $93.19.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, October 16th. The asset manager reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Cohen & Steers had a return on equity of 29.40% and a net margin of 29.73%.The company had revenue of $140.94 million during the quarter, compared to analysts’ expectations of $138.84 million. During the same quarter in the previous year, the firm earned $0.77 EPS. Cohen & Steers’s revenue was up 6.4% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a $0.62 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.9%. Cohen & Steers’s dividend payout ratio is 77.74%.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).