Louisiana State Employees Retirement System Acquires Shares of 12,200 Cohen & Steers Inc $CNS

Louisiana State Employees Retirement System acquired a new position in shares of Cohen & Steers Inc (NYSE:CNS) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,200 shares of the asset manager’s stock, valued at approximately $763,000.

Other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in shares of Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after buying an additional 297 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Cohen & Steers during the fourth quarter worth about $28,000. Aster Capital Management DIFC Ltd bought a new stake in Cohen & Steers in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd raised its stake in Cohen & Steers by 110.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock valued at $36,000 after buying an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Cohen & Steers by 754.9% in the 4th quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 536 shares during the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Daniel Noonan sold 4,360 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the transaction, the executive vice president directly owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 45.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CNS shares. Zacks Research upgraded shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings raised shares of Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. Finally, Evercore reissued an “outperform” rating and issued a $82.00 target price on shares of Cohen & Steers in a report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cohen & Steers has a consensus rating of “Hold” and an average price target of $75.00.

Cohen & Steers Trading Up 0.3%

NYSE:CNS traded up $0.25 during mid-day trading on Tuesday, hitting $79.70. The stock had a trading volume of 2,878 shares, compared to its average volume of 333,253. The company has a 50 day simple moving average of $73.31 and a 200-day simple moving average of $67.93. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.18 and a beta of 1.22. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $80.21.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Thursday, April 16th. The asset manager reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03). The firm had revenue of $144.26 million during the quarter, compared to analyst estimates of $140.62 million. Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%. Cohen & Steers’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. As a group, equities research analysts anticipate that Cohen & Steers Inc will post 3.47 earnings per share for the current year.

Cohen & Steers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, May 11th. Cohen & Steers’s payout ratio is 88.45%.

Cohen & Steers Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).