UBS Group AG Cuts Stock Position in Cohen & Steers Inc $CNS

UBS Group AG lessened its stake in shares of Cohen & Steers Inc (NYSE:CNS) by 43.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 80,682 shares of the asset manager’s stock after selling 62,876 shares during the quarter. UBS Group AG’s holdings in Cohen & Steers were worth $5,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CNS. Teacher Retirement System of Texas raised its position in 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 acquiring an additional 59,761 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Cohen & Steers in the third quarter worth $2,370,000. Alps Advisors Inc. raised its position in Cohen & Steers by 37.8% in the third quarter. Alps Advisors Inc. now owns 96,635 shares of the asset manager’s stock worth $6,340,000 after acquiring an additional 26,511 shares in the last quarter. Tudor Investment Corp ET AL raised its position in Cohen & Steers by 156.0% in the third quarter. Tudor Investment Corp ET AL now owns 77,292 shares of the asset manager’s stock worth $5,071,000 after acquiring an additional 47,096 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in Cohen & Steers by 16.7% in the third quarter. Public Sector Pension Investment Board now owns 107,421 shares of the asset manager’s stock worth $7,048,000 after acquiring an additional 15,337 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Cohen & Steers Stock Performance

Cohen & Steers stock opened at $72.08 on Friday. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. Cohen & Steers Inc has a fifty-two week low of $58.39 and a fifty-two week high of $78.86. The stock’s fifty day moving average is $66.41 and its two-hundred day moving average is $65.40.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). The firm had revenue of $144.26 million during the quarter, compared to analyst estimates of $140.62 million. Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. As a group, sell-side analysts forecast that Cohen & Steers Inc will post 3.38 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued a $0.67 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.68 annualized dividend and a yield of 3.7%. Cohen & Steers’s dividend payout ratio is 88.45%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Zacks Research upgraded Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Evercore set a $76.00 price objective on Cohen & Steers in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cohen & Steers currently has an average rating of “Hold” and a consensus target price of $72.00.

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).