Renaissance Technologies LLC Has $3.95 Million Stock Position in Cohen & Steers Inc $CNS

Renaissance Technologies LLC lessened its stake in shares of Cohen & Steers Inc (NYSE:CNS) by 22.5% during the first quarter, Holdings Channel.com reports. The firm owned 63,212 shares of the asset manager’s stock after selling 18,300 shares during the period. Renaissance Technologies LLC’s holdings in Cohen & Steers were worth $3,954,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Cohen & Steers by 2.0% in the first quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager’s stock worth $4,124,000 after acquiring an additional 1,003 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cohen & Steers by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager’s stock worth $1,313,000 after purchasing an additional 716 shares during the period. Millennium Management LLC raised its position in shares of Cohen & Steers by 485.1% during the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock worth $7,477,000 after purchasing an additional 77,251 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Cohen & Steers in the 1st quarter worth $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cohen & Steers by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager’s stock worth $5,838,000 after purchasing an additional 2,155 shares in the last quarter. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cohen & Steers

In related news, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the transaction, the chief accounting officer directly owned 22,146 shares in the company, valued at $1,841,661.36. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Noonan sold 4,360 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the transaction, the executive vice president owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 45.40% of the stock is currently owned by insiders.

Cohen & Steers Stock Down 1.0%

Shares of NYSE:CNS opened at $83.64 on Friday. The business’s 50 day moving average is $78.16 and its 200 day moving average is $70.57. Cohen & Steers Inc has a 12-month low of $58.39 and a 12-month high of $85.63. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.08 and a beta of 1.21.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $151.84 million during the quarter, compared to the consensus estimate of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 EPS. As a group, equities research analysts expect that Cohen & Steers Inc will post 3.49 earnings per share for the current year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a $0.67 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Cohen & Steers’s payout ratio is 82.21%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Evercore reiterated an “outperform” rating and set a $84.00 price objective on shares of Cohen & Steers in a report on Friday, July 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.00.

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).