AlphaQuest LLC Cuts Holdings in Cohen & Steers Inc $CNS

AlphaQuest LLC trimmed its position in Cohen & Steers Inc (NYSE:CNS) by 93.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,960 shares of the asset manager’s stock after selling 27,286 shares during the period. AlphaQuest LLC’s holdings in Cohen & Steers were worth $129,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. Covestor Ltd boosted its position in Cohen & Steers by 17.3% in the third quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock worth $126,000 after purchasing an additional 284 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Cohen & Steers in the first quarter worth $172,000. Tower Research Capital LLC TRC grew its stake in Cohen & Steers by 376.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the asset manager’s stock valued at $194,000 after purchasing an additional 2,035 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of Cohen & Steers during the 2nd quarter valued at $215,000. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Price Performance

NYSE CNS opened at $66.11 on Friday. The company’s 50 day simple moving average is $64.69 and its two-hundred day simple moving average is $67.56. Cohen & Steers Inc has a 1 year low of $58.39 and a 1 year high of $88.76. The stock has a market capitalization of $3.37 billion, a PE ratio of 22.18, a P/E/G ratio of 1.93 and a beta of 1.27.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Thursday, January 22nd. The asset manager reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $143.79 million for the quarter, compared to analysts’ expectations of $144.30 million. Cohen & Steers had a net margin of 27.55% and a return on equity of 29.37%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share.

Analysts Set New Price Targets

CNS has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, January 21st. Finally, Evercore boosted their target price on shares of Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Cohen & Steers presently has a consensus rating of “Reduce” and a consensus price target of $72.50.

Insider Activity

In related news, Director Martin Cohen acquired 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, for a total transaction of $773,027.64. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Francis C. Poli sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $65.73, for a total transaction of $657,300.00. Following the completion of the sale, the executive vice president directly owned 55,675 shares in the company, valued at $3,659,517.75. This represents a 15.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders acquired 100,000 shares of company stock worth $5,982,368. Insiders own 47.60% of the company’s stock.

Cohen & Steers 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).