Scout Investments Inc. Reduces Stock Holdings in Cohen & Steers, Inc. (NYSE:CNS)

Scout Investments Inc. reduced its position in Cohen & Steers, Inc. (NYSE:CNS) by 6.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 133,079 shares of the asset manager’s stock after selling 8,475 shares during the period. Scout Investments Inc.’s holdings in Cohen & Steers were worth $9,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Cohen & Steers Price Performance

CNS stock traded down $0.12 during midday trading on Friday, reaching $81.94. The company had a trading volume of 177,998 shares, compared to its average volume of 236,957. The firm has a 50-day moving average price of $72.12 and a 200-day moving average price of $71.64. The company has a market capitalization of $4.14 billion, a P/E ratio of 31.98 and a beta of 1.53. Cohen & Steers, Inc. has a 1 year low of $50.05 and a 1 year high of $85.95.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. Cohen & Steers had a net margin of 26.27% and a return on equity of 36.67%. The company had revenue of $121.70 million during the quarter, compared to analyst estimates of $121.48 million. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Monday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, May 10th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.88%. Cohen & Steers’s dividend payout ratio is 91.83%.

Insiders Place Their Bets

In related news, EVP Jon Cheigh sold 7,159 shares of Cohen & Steers stock in a transaction on 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 in the company, valued at approximately $12,120,496.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 47.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their price target on shares of Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a report on Wednesday, July 10th.

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.