Cohen & Steers Inc $CNS Shares Sold by Citigroup Inc.

Citigroup Inc. cut its stake in shares of Cohen & Steers Inc (NYSE:CNS) by 21.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,773 shares of the asset manager’s stock after selling 8,948 shares during the quarter. Citigroup Inc. owned about 0.06% of Cohen & Steers worth $2,150,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wasatch Advisors LP lifted its position in Cohen & Steers by 15.1% during the 2nd quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after acquiring an additional 323,759 shares during the period. State Street Corp increased its holdings in shares of Cohen & Steers by 0.8% in the second quarter. State Street Corp now owns 1,116,966 shares of the asset manager’s stock valued at $84,163,000 after purchasing an additional 9,099 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Cohen & Steers by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,076,846 shares of the asset manager’s stock worth $81,140,000 after purchasing an additional 18,537 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cohen & Steers by 1.9% in the second quarter. Geode Capital Management LLC now owns 764,842 shares of the asset manager’s stock worth $57,638,000 after purchasing an additional 13,969 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of Cohen & Steers by 1.6% during the third quarter. Congress Asset Management Co. now owns 644,560 shares of the asset manager’s stock worth $42,290,000 after purchasing an additional 9,942 shares during the period. 51.47% of the stock is owned by institutional investors and hedge funds.

Cohen & Steers Stock Performance

Shares of CNS opened at $65.10 on Friday. The business’s 50-day moving average is $66.06 and its two-hundred day moving average is $66.66. The company has a market capitalization of $3.35 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.93 and a beta of 1.26. Cohen & Steers Inc has a fifty-two week low of $58.39 and a fifty-two week high of $88.49.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Thursday, January 22nd. The asset manager reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Cohen & Steers had a return on equity of 28.46% and a net margin of 27.55%.The business had revenue of $143.79 million during the quarter, compared to analysts’ expectations of $144.30 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis.

Cohen & Steers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a dividend of $0.67 per share. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.62. This represents a $2.68 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, March 9th. Cohen & Steers’s dividend payout ratio (DPR) is 83.22%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, January 21st. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $72.50.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, EVP Francis C. Poli sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $65.73, for a total value of $657,300.00. Following the completion of the transaction, the executive vice president directly owned 55,675 shares of the company’s stock, valued at approximately $3,659,517.75. The trade was a 15.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 47.60% of the company’s stock.

About Cohen & Steers

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).