Portside Wealth Group LLC Takes $272,000 Position in Cohen & Steers, Inc. (NYSE:CNS)

Portside Wealth Group LLC acquired a new position in Cohen & Steers, Inc. (NYSE:CNS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,833 shares of the asset manager’s stock, valued at approximately $272,000.

A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Cohen & Steers by 3,638.5% in the 2nd quarter. Principal Financial Group Inc. now owns 130,774 shares of the asset manager’s stock worth $9,489,000 after acquiring an additional 127,276 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Cohen & Steers during the first quarter valued at about $5,193,000. Bank of New York Mellon Corp boosted its holdings in shares of Cohen & Steers by 20.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 646,835 shares of the asset manager’s stock valued at $46,934,000 after buying an additional 111,649 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Cohen & Steers by 91.1% in the 2nd quarter. Hsbc Holdings PLC now owns 132,193 shares of the asset manager’s stock worth $9,590,000 after buying an additional 63,019 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in shares of Cohen & Steers during the 2nd quarter worth approximately $4,199,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Cohen & Steers Trading Up 1.6 %

NYSE:CNS opened at $103.88 on Friday. Cohen & Steers, Inc. has a twelve month low of $51.61 and a twelve month high of $110.67. The company has a market cap of $5.25 billion, a PE ratio of 38.76 and a beta of 1.53. The company’s 50 day moving average is $95.92 and its two-hundred day moving average is $82.99.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Wednesday, October 16th. The asset manager reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Cohen & Steers had a net margin of 27.23% and a return on equity of 34.43%. The firm had revenue of $133.20 million for the quarter, compared to analyst estimates of $124.18 million. During the same period in the previous year, the company earned $0.70 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, November 18th. Cohen & Steers’s dividend payout ratio (DPR) is 88.06%.

Wall Street Analysts Forecast Growth

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

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.