Fifth Third Bancorp Lowers Holdings in Cohen & Steers, Inc. (NYSE:CNS)

Fifth Third Bancorp reduced its position in shares of Cohen & Steers, Inc. (NYSE:CNS) by 42.8% during the 4th quarter, HoldingsChannel reports. The firm owned 324 shares of the asset manager’s stock after selling 242 shares during the period. Fifth Third Bancorp’s holdings in Cohen & Steers were worth $30,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CNS. Ashton Thomas Securities LLC bought a new position in shares of Cohen & Steers during the 3rd quarter worth $31,000. Westside Investment Management Inc. purchased a new stake in Cohen & Steers in the third quarter worth about $32,000. GAMMA Investing LLC lifted its stake in Cohen & Steers by 64.9% in the third quarter. GAMMA Investing LLC now owns 610 shares of the asset manager’s stock worth $59,000 after acquiring an additional 240 shares during the period. Signaturefd LLC grew its holdings in Cohen & Steers by 19.8% during the 3rd quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock worth $62,000 after acquiring an additional 107 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Cohen & Steers by 16.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after purchasing an additional 119 shares during the period. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CNS shares. UBS Group upgraded shares of Cohen & Steers from a “sell” rating to a “neutral” rating and increased their price objective for the company from $63.00 to $102.00 in a research note on Thursday, October 17th. Evercore ISI increased 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

CNS stock opened at $88.62 on Monday. The firm has a 50-day simple moving average of $94.01 and a two-hundred day simple moving average of $93.03. 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 $4.48 billion, a price-to-earnings ratio of 29.84 and a beta of 1.55.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Wednesday, January 22nd. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). Cohen & Steers had a return on equity of 33.13% and a net margin of 29.24%.

Cohen & Steers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Monday, November 18th. Cohen & Steers’s payout ratio is 79.46%.

Cohen & Steers Company 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.