Thrivent Financial for Lutherans Decreases Holdings in Cohen & Steers, Inc. (NYSE:CNS)

Thrivent Financial for Lutherans lowered its stake in Cohen & Steers, Inc. (NYSE:CNS) by 3.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,039 shares of the asset manager’s stock after selling 778 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cohen & Steers were worth $2,019,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royce & Associates LP acquired a new position in Cohen & Steers in the 3rd quarter valued at $868,000. CIBC Asset Management Inc bought a new position in shares of Cohen & Steers during the third quarter worth about $243,000. KBC Group NV bought a new position in shares of Cohen & Steers during the third quarter worth about $106,000. Ashton Thomas Securities LLC bought a new position in shares of Cohen & Steers during the third quarter worth about $31,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Cohen & Steers during the third quarter worth about $211,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNS shares. UBS Group raised shares of Cohen & Steers from a “sell” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $102.00 in a research report on Thursday, October 17th. Evercore ISI raised their target price on shares of Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Cohen & Steers Stock Down 1.8 %

Shares of NYSE CNS opened at $104.63 on Friday. The firm’s 50-day moving average price is $99.09 and its two-hundred day moving average price is $85.87. Cohen & Steers, Inc. has a 52-week low of $56.28 and a 52-week high of $110.67. The stock has a market capitalization of $5.29 billion, a P/E ratio of 39.04 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, October 16th. The asset manager reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Cohen & Steers had a net margin of 27.23% and a return on equity of 32.75%. The company had revenue of $133.20 million for the quarter, compared to analyst estimates of $124.18 million. During the same quarter last year, the business earned $0.70 earnings per share. Cohen & Steers’s revenue was up 7.7% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.59 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.36 annualized dividend and a dividend yield of 2.26%. Cohen & Steers’s payout ratio is currently 88.06%.

About Cohen & Steers

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.