Everence Capital Management Inc. Makes New Investment in Cohen & Steers, Inc. (NYSE:CNS)

Everence Capital Management Inc. acquired a new stake in Cohen & Steers, Inc. (NYSE:CNS) in the 3rd quarter, HoldingsChannel reports. The fund acquired 2,200 shares of the asset manager’s stock, valued at approximately $211,000.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Cohen & Steers by 115.1% in the 2nd quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock valued at $27,000 after buying an additional 198 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Cohen & Steers in the 3rd quarter valued at approximately $125,000. OLD National Bancorp IN acquired a new stake in shares of Cohen & Steers in the 3rd quarter valued at approximately $206,000. Meeder Asset Management Inc. acquired a new stake in shares of Cohen & Steers in the 2nd quarter valued at approximately $161,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Cohen & Steers in the 1st quarter valued at approximately $224,000. Institutional investors and hedge funds own 51.47% of the company’s stock.

Insider Transactions at Cohen & Steers

In related news, EVP Jon Cheigh sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the transaction, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Jon Cheigh sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the transaction, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Elena Dulik sold 1,100 shares of Cohen & Steers stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $86.45, for a total value of $95,095.00. Following the completion of the transaction, the chief accounting officer now owns 20,091 shares in the company, valued at approximately $1,736,866.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 47.60% of the company’s stock.

Cohen & Steers Stock Performance

CNS opened at $103.47 on Wednesday. Cohen & Steers, Inc. has a fifty-two week low of $50.05 and a fifty-two week high of $110.67. The company has a market capitalization of $5.23 billion, a P/E ratio of 40.26 and a beta of 1.54. The stock has a fifty day moving average of $91.73 and a 200-day moving average of $80.13.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The company had revenue of $133.20 million during the quarter, compared to the consensus estimate of $124.18 million. During the same quarter last year, the firm earned $0.70 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Monday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, August 12th. Cohen & Steers’s dividend payout ratio is currently 91.83%.

Wall Street Analyst Weigh In

CNS has been the subject of several recent analyst reports. Evercore ISI increased their price objective on Cohen & Steers from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group raised Cohen & Steers from a “sell” rating to a “neutral” rating and raised their price target for the company from $63.00 to $102.00 in a report on Thursday, October 17th.

Cohen & Steers 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.