Norges Bank Purchases New Shares in Cohen & Steers Inc $CNS

Norges Bank purchased a new stake in shares of Cohen & Steers Inc (NYSE:CNS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 481,557 shares of the asset manager’s stock, valued at approximately $30,232,000. Norges Bank owned approximately 0.94% of Cohen & Steers at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Navellier & Associates Inc. bought a new stake in shares of Cohen & Steers in the 4th quarter worth about $3,586,000. Tudor Investment Corp ET AL increased its position in shares of Cohen & Steers by 156.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,292 shares of the asset manager’s stock worth $5,071,000 after purchasing an additional 47,096 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Cohen & Steers by 40.5% in the 4th quarter. Teacher Retirement System of Texas now owns 99,778 shares of the asset manager’s stock worth $6,264,000 after purchasing an additional 28,740 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Cohen & Steers by 16.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 107,421 shares of the asset manager’s stock valued at $7,048,000 after buying an additional 15,337 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Cohen & Steers by 12.5% in the 3rd quarter. Fisher Asset Management LLC now owns 111,334 shares of the asset manager’s stock valued at $7,305,000 after buying an additional 12,364 shares during the period. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Price Performance

CNS stock opened at $77.23 on Wednesday. The company’s 50 day simple moving average is $68.82 and its 200-day simple moving average is $66.00. Cohen & Steers Inc has a 52-week low of $58.39 and a 52-week high of $78.81. The firm has a market capitalization of $3.97 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.10 and a beta of 1.25.

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

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 11th. Cohen & Steers’s payout ratio is currently 88.45%.

Wall Street Analysts Forecast Growth

CNS has been the subject of a number of recent research reports. Evercore reaffirmed an “outperform” rating and set a $82.00 price objective on shares of Cohen & Steers in a research report on Monday. Zacks Research upgraded shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One equities research 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, the company currently has a consensus rating of “Hold” and an average price target of $75.00.

About Cohen & Steers

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).