Cohen & Steers, Inc. (NYSE:CNS) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its stake in shares of Cohen & Steers, Inc. (NYSE:CNS) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,625 shares of the asset manager’s stock after acquiring an additional 198 shares during the period. Arizona State Retirement System’s holdings in Cohen & Steers were worth $553,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Cohen & Steers during the fourth quarter valued at $26,957,000. Silvercrest Asset Management Group LLC acquired a new stake in Cohen & Steers in the 1st quarter worth about $5,193,000. Evoke Wealth LLC acquired a new stake in Cohen & Steers in the 4th quarter worth about $3,321,000. Sei Investments Co. boosted its stake in Cohen & Steers by 17.0% in the 1st quarter. Sei Investments Co. now owns 265,608 shares of the asset manager’s stock worth $20,423,000 after buying an additional 38,620 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Cohen & Steers by 292.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,236 shares of the asset manager’s stock worth $888,000 after buying an additional 9,119 shares during the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

Cohen & Steers Price Performance

Cohen & Steers stock opened at $94.42 on Tuesday. The stock’s 50-day moving average is $84.31 and its 200-day moving average is $76.20. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 36.74 and a beta of 1.54. Cohen & Steers, Inc. has a 12 month low of $50.05 and a 12 month high of $94.82.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $0.68 EPS for the quarter. The business had revenue of $121.70 million for the quarter, compared to the consensus estimate of $121.48 million. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The company’s revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 2.50%. Cohen & Steers’s payout ratio is currently 91.83%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CNS shares. UBS Group decreased their price target on Cohen & Steers from $65.00 to $63.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI raised their price objective on Cohen & Steers from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, Director Richard P. Simon sold 7,000 shares of Cohen & Steers stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $80.61, for a total transaction of $564,270.00. Following the sale, the director now directly owns 15,660 shares in the company, valued at approximately $1,262,352.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Elena Dulik sold 1,100 shares of Cohen & Steers stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $86.45, for a total value of $95,095.00. Following the completion of the transaction, the chief accounting officer now owns 20,091 shares in the company, valued at approximately $1,736,866.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard P. Simon sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $80.61, for a total value of $564,270.00. Following the transaction, the director now owns 15,660 shares of the company’s stock, valued at approximately $1,262,352.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,600 shares of company stock worth $1,710,365. 47.60% of the stock is currently owned by company insiders.

Cohen & Steers Profile

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.