KBC Group NV Makes New $106,000 Investment in Cohen & Steers, Inc. (NYSE:CNS)

KBC Group NV purchased a new stake in shares of Cohen & Steers, Inc. (NYSE:CNS) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,108 shares of the asset manager’s stock, valued at approximately $106,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Cohen & Steers during the third quarter valued at about $31,000. Crossmark Global Holdings Inc. bought a new position in Cohen & Steers during the 3rd quarter valued at approximately $211,000. Covestor Ltd lifted its holdings in Cohen & Steers by 1,172.2% in the 3rd quarter. Covestor Ltd now owns 1,603 shares of the asset manager’s stock worth $154,000 after buying an additional 1,477 shares during the period. Portside Wealth Group LLC purchased a new position in shares of Cohen & Steers during the third quarter valued at approximately $272,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Cohen & Steers by 113.4% during the third quarter. Harbor Capital Advisors Inc. now owns 26,108 shares of the asset manager’s stock valued at $2,505,000 after acquiring an additional 13,872 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Cohen & Steers Stock Up 2.3 %

Shares of NYSE CNS opened at $101.99 on Friday. The firm’s 50-day moving average price is $98.24 and its 200-day moving average price is $84.85. Cohen & Steers, Inc. has a 52-week low of $56.23 and a 52-week high of $110.67. The company has a market cap of $5.16 billion, a PE ratio of 38.06 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last announced its earnings results 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 32.75%. The business had revenue of $133.20 million during the quarter, compared to analyst estimates of $124.18 million. During the same period in the previous year, the business earned $0.70 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, November 18th. Cohen & Steers’s payout ratio is currently 88.06%.

Wall Street Analysts Forecast Growth

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

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.