Cohen & Steers Inc $CNS Stake Lowered by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of Cohen & Steers Inc (NYSE:CNS) by 3.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 84,478 shares of the asset manager’s stock after selling 2,977 shares during the period. ProShare Advisors LLC’s holdings in Cohen & Steers were worth $6,365,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Entropy Technologies LP acquired a new position in Cohen & Steers during the first quarter worth $441,000. Nuveen LLC acquired a new position in shares of Cohen & Steers during the 1st quarter valued at about $6,193,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Cohen & Steers by 92.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,784 shares of the asset manager’s stock valued at $813,000 after acquiring an additional 5,175 shares in the last quarter. Northern Trust Corp lifted its holdings in Cohen & Steers by 3.5% in the 1st quarter. Northern Trust Corp now owns 377,962 shares of the asset manager’s stock worth $30,331,000 after purchasing an additional 12,812 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Cohen & Steers in the 1st quarter worth approximately $1,576,000. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Trading Down 1.2%

NYSE:CNS opened at $65.41 on Friday. The firm has a 50 day moving average of $68.28 and a 200-day moving average of $73.43. The stock has a market capitalization of $3.34 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40. Cohen & Steers Inc has a 1 year low of $64.29 and a 1 year high of $107.31.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, October 16th. The asset manager reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.The firm had revenue of $140.94 million during the quarter, compared to analysts’ expectations of $138.84 million. During the same period in the previous year, the business posted $0.77 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, November 10th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 10th. Cohen & Steers’s payout ratio is currently 77.74%.

Wall Street Analyst Weigh In

Several brokerages have commented on CNS. Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday, October 8th. Evercore ISI raised their target price on shares of Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Bank of America boosted their target price on shares of Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.50.

Cohen & Steers Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.