IMC Chicago LLC Makes New $537,000 Investment in Cohen & Steers Inc $CNS

IMC Chicago LLC bought a new stake in shares of Cohen & Steers Inc (NYSE:CNS) in the second quarter, HoldingsChannel.com reports. The firm bought 7,058 shares of the asset manager’s stock, valued at approximately $537,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNS. Bank of New York Mellon Corp purchased a new position in shares of Cohen & Steers in the 2nd quarter worth $32,514,000. State of Wyoming bought a new stake in shares of Cohen & Steers in the second quarter worth $80,000. Walleye Capital LLC purchased a new stake in Cohen & Steers during the second quarter valued at $998,000. Legacy Wealth Asset Management LLC purchased a new stake in Cohen & Steers during the second quarter valued at $254,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Cohen & Steers by 67.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,494 shares of the asset manager’s stock valued at $875,000 after acquiring an additional 4,630 shares during the period. 51.47% of the stock is owned by institutional investors.

Cohen & Steers Price Performance

Shares of NYSE:CNS opened at $84.69 on Monday. Cohen & Steers Inc has a 1-year low of $58.39 and a 1-year high of $86.56. The company has a market capitalization of $4.35 billion, a P/E ratio of 25.98, a P/E/G ratio of 2.07 and a beta of 1.21. The firm’s 50 day simple moving average is $79.41 and its two-hundred day simple moving average is $71.16.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 earnings per share. On average, sell-side analysts anticipate that Cohen & Steers Inc will post 3.53 earnings per share for the current fiscal year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, August 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.2%. Cohen & Steers’s payout ratio is 82.21%.

Insider Buying and Selling at Cohen & Steers

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the sale, the executive vice president directly owned 28,682 shares of the company’s stock, valued at $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $83.16, for a total value of $91,476.00. Following the completion of the transaction, the chief accounting officer 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 45.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNS. Weiss Ratings raised Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Evercore restated an “outperform” rating and issued a $88.00 price target on shares of Cohen & Steers in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.00.

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).