Edgestream Partners L.P. Buys Shares of 19,638 Cohen & Steers Inc (NYSE:CNS)

Edgestream Partners L.P. bought a new stake in Cohen & Steers Inc (NYSE:CNS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,638 shares of the asset manager’s stock, valued at approximately $1,576,000.

Other large investors have also recently bought and sold shares of the company. Alps Advisors Inc. grew its position in Cohen & Steers by 7.8% in the first quarter. Alps Advisors Inc. now owns 70,624 shares of the asset manager’s stock valued at $5,668,000 after purchasing an additional 5,101 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Cohen & Steers by 2.5% in the first quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager’s stock valued at $536,000 after purchasing an additional 165 shares in the last quarter. Principal Financial Group Inc. grew its position in Cohen & Steers by 2.3% in the first quarter. Principal Financial Group Inc. now owns 133,860 shares of the asset manager’s stock valued at $10,742,000 after purchasing an additional 3,035 shares in the last quarter. Mendel Capital Management LLC grew its position in Cohen & Steers by 4.3% in the first quarter. Mendel Capital Management LLC now owns 4,775 shares of the asset manager’s stock valued at $383,000 after purchasing an additional 196 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Cohen & Steers by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,837 shares of the asset manager’s stock valued at $1,716,000 after purchasing an additional 2,446 shares in the last quarter. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Stock Performance

Shares of NYSE CNS opened at $72.71 on Friday. The company has a market capitalization of $3.71 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 2.48 and a beta of 1.32. Cohen & Steers Inc has a 52-week low of $68.99 and a 52-week high of $110.67. The company’s 50 day moving average price is $77.12 and its 200-day moving average price is $80.54.

Cohen & Steers (NYSE:CNS) last released its earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Cohen & Steers had a net margin of 29.82% and a return on equity of 30.36%. The company had revenue of $135.32 million for the quarter, compared to analyst estimates of $134.59 million. During the same quarter in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 11.8% on a year-over-year basis.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.48 annualized dividend and a dividend yield of 3.41%. Cohen & Steers’s payout ratio is 81.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNS. Bank of America began coverage on shares of Cohen & Steers in a research note on Monday, June 30th. They issued an “underperform” rating and a $67.00 price target for the company. Evercore ISI cut their target price on shares of Cohen & Steers from $94.00 to $78.00 and set an “outperform” rating for the company in a research note on Friday, April 11th.

Cohen & Steers Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.