Congress Asset Management Co. Sells 638,651 Shares of Cohen & Steers Inc $CNS

Congress Asset Management Co. trimmed its holdings in Cohen & Steers Inc (NYSE:CNS) by 99.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,909 shares of the asset manager’s stock after selling 638,651 shares during the period. Congress Asset Management Co.’s holdings in Cohen & Steers were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CNS. Geneos Wealth Management Inc. lifted its holdings 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 valued at $31,000 after purchasing an additional 297 shares in the last quarter. Covestor Ltd grew its position in shares of Cohen & Steers by 17.3% in the 3rd quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 284 shares during the period. Jones Financial Companies Lllp bought a new stake in Cohen & Steers during the 1st quarter worth approximately $172,000. Tower Research Capital LLC TRC increased its stake in Cohen & Steers by 376.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the asset manager’s stock worth $194,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in Cohen & Steers during the 2nd quarter worth approximately $215,000. 51.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, January 21st. Zacks Research downgraded shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Cohen & Steers presently has a consensus rating of “Reduce” and a consensus price target of $72.50.

Insider Buying and Selling at Cohen & Steers

In other news, EVP Francis C. Poli sold 10,000 shares of Cohen & Steers stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $65.73, for a total value of $657,300.00. Following the sale, the executive vice president directly owned 55,675 shares in the company, valued at $3,659,517.75. This trade represents a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 47.60% of the stock is owned by corporate insiders.

Cohen & Steers Price Performance

Shares of Cohen & Steers stock opened at $61.86 on Friday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 1.84 and a beta of 1.26. The stock’s 50-day moving average is $65.24 and its 200-day moving average is $65.67. Cohen & Steers Inc has a one year low of $58.39 and a one year high of $83.99.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Thursday, January 22nd. The asset manager reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $144.30 million. During the same period last year, the company earned $0.78 earnings per share. Cohen & Steers’s quarterly revenue was up 2.9% on a year-over-year basis.

Cohen & Steers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $2.68 annualized dividend and a dividend yield of 4.3%. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.62. Cohen & Steers’s dividend payout ratio (DPR) is 89.93%.

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).