Wasatch Advisors LP Has $240.26 Million Holdings in Cohen & Steers, Inc. (NYSE:CNS)

Wasatch Advisors LP raised its stake in Cohen & Steers, Inc. (NYSE:CNS) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,124,662 shares of the asset manager’s stock after purchasing an additional 703,999 shares during the period. Cohen & Steers makes up approximately 1.3% of Wasatch Advisors LP’s holdings, making the stock its 26th biggest position. Wasatch Advisors LP owned 6.31% of Cohen & Steers worth $240,255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in Cohen & Steers in the fourth quarter worth $28,000. SRS Capital Advisors Inc. increased its stake in Cohen & Steers by 294.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 548 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 409 shares during the period. Garner Asset Management Corp bought a new stake in Cohen & Steers in the fourth quarter valued at about $84,000. SG Americas Securities LLC acquired a new position in Cohen & Steers in the fourth quarter worth about $142,000. Finally, Beacon Pointe Advisors LLC bought a new position in Cohen & Steers during the fourth quarter worth about $209,000. Institutional investors own 51.47% of the company’s stock.

Insider Activity at Cohen & Steers

In other news, EVP Jon Cheigh sold 7,159 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $72.57, for a total value of $519,528.63. Following the transaction, the executive vice president now owns 167,018 shares of the company’s stock, valued at approximately $12,120,496.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 47.04% of the stock is currently owned by company insiders.

Cohen & Steers Price Performance

Shares of CNS traded up $0.85 during trading hours on Tuesday, hitting $71.73. The stock had a trading volume of 92,397 shares, compared to its average volume of 242,887. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 27.91 and a beta of 1.53. The company’s fifty day moving average is $70.96 and its two-hundred day moving average is $71.54. Cohen & Steers, Inc. has a 52 week low of $50.05 and a 52 week high of $78.58.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). Cohen & Steers had a return on equity of 36.67% and a net margin of 26.27%. The firm had revenue of $122.71 million for the quarter, compared to the consensus estimate of $125.01 million. During the same period in the prior year, the company posted $0.76 earnings per share. Cohen & Steers’s quarterly revenue was down 2.7% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, May 10th. Cohen & Steers’s payout ratio is presently 91.83%.

Analysts Set New Price Targets

Separately, UBS Group dropped their target price on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a report on Friday, April 12th.

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.