JPMorgan Chase & Co. Lowers Position in Cohen & Steers Inc $CNS

JPMorgan Chase & Co. trimmed its holdings in shares of Cohen & Steers Inc (NYSE:CNS) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,520 shares of the asset manager’s stock after selling 29,199 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cohen & Steers were worth $6,661,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in shares of Cohen & Steers by 529.9% in the third quarter. Teacher Retirement System of Texas now owns 71,038 shares of the asset manager’s stock worth $4,661,000 after purchasing an additional 59,761 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in Cohen & Steers in the third quarter valued at approximately $9,554,000. Y Intercept Hong Kong Ltd bought a new stake in Cohen & Steers during the third quarter valued at approximately $2,370,000. Alps Advisors Inc. grew its stake in Cohen & Steers by 37.8% in the 3rd quarter. Alps Advisors Inc. now owns 96,635 shares of the asset manager’s stock worth $6,340,000 after buying an additional 26,511 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in Cohen & Steers by 316.7% in the 2nd quarter. Edgestream Partners L.P. now owns 81,839 shares of the asset manager’s stock worth $6,167,000 after buying an additional 62,201 shares in the last quarter. 51.47% of the stock is currently owned by institutional investors.

Cohen & Steers Stock Performance

CNS stock opened at $62.54 on Wednesday. The firm has a market cap of $3.21 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.83 and a beta of 1.26. The firm’s fifty day moving average is $64.74 and its 200 day moving average is $65.38. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $83.99.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, January 22nd. The asset manager reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. Cohen & Steers had a net margin of 27.55% and a return on equity of 28.46%. The business had revenue of $143.79 million during the quarter, compared to the consensus estimate of $144.30 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis.

Cohen & Steers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were issued a dividend of $0.67 per share. The ex-dividend date was Monday, March 9th. This represents a $2.68 annualized dividend and a yield of 4.3%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.62. Cohen & Steers’s dividend payout ratio (DPR) is currently 89.93%.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, EVP Francis C. Poli sold 10,000 shares of Cohen & Steers stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $65.73, for a total value of $657,300.00. Following the transaction, the executive vice president directly owned 55,675 shares of the company’s stock, valued at $3,659,517.75. The trade was a 15.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 45.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CNS has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, January 21st. Zacks Research upgraded Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.50.

Cohen & Steers Company 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).