Geode Capital Management LLC Increases Position in Cohen & Steers, Inc. (NYSE:CNS)

Geode Capital Management LLC increased its holdings in shares of Cohen & Steers, Inc. (NYSE:CNS) by 4.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 709,323 shares of the asset manager’s stock after acquiring an additional 33,414 shares during the period. Geode Capital Management LLC owned about 1.40% of Cohen & Steers worth $68,071,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CNS. Ashton Thomas Securities LLC bought a new stake in shares of Cohen & Steers during the third quarter worth $31,000. GAMMA Investing LLC increased its stake in Cohen & Steers by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 610 shares of the asset manager’s stock worth $59,000 after buying an additional 240 shares during the period. Signaturefd LLC lifted its holdings in Cohen & Steers by 19.8% during the 3rd quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after buying an additional 107 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Cohen & Steers by 16.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after buying an additional 119 shares during the period. Finally, KBC Group NV bought a new position in Cohen & Steers in the 3rd quarter worth about $106,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Analyst Ratings Changes

CNS has been the subject of several research analyst reports. UBS Group raised shares of Cohen & Steers from a “sell” rating to a “neutral” rating and lifted their price target for the company from $63.00 to $102.00 in a research note on Thursday, October 17th. Evercore ISI lifted their target price on Cohen & Steers from $110.00 to $111.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

Cohen & Steers Stock Performance

NYSE:CNS opened at $92.49 on Friday. The firm has a 50-day simple moving average of $100.87 and a 200-day simple moving average of $89.07. Cohen & Steers, Inc. has a one year low of $64.13 and a one year high of $110.67. The firm has a market cap of $4.68 billion, a P/E ratio of 34.51 and a beta of 1.52.

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

Cohen & Steers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $0.59 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.36 annualized dividend and a yield of 2.55%. Cohen & Steers’s dividend payout ratio (DPR) is presently 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.