Bank of New York Mellon Corp Trims Stock Position in Cohen & Steers, Inc. (NYSE:CNS)

Bank of New York Mellon Corp reduced its position in shares of Cohen & Steers, Inc. (NYSE:CNS - Free Report) by 19.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451,378 shares of the asset manager's stock after selling 110,632 shares during the period. Bank of New York Mellon Corp owned approximately 0.89% of Cohen & Steers worth $41,680,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its stake in shares of Cohen & Steers by 4.8% during the 3rd quarter. New York State Teachers Retirement System now owns 6,480 shares of the asset manager's stock worth $622,000 after buying an additional 294 shares in the last quarter. Farther Finance Advisors LLC raised its position in Cohen & Steers by 16.9% in the third quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager's stock worth $79,000 after acquiring an additional 119 shares in the last quarter. Portside Wealth Group LLC acquired a new stake in Cohen & Steers in the third quarter valued at $272,000. Covestor Ltd lifted its holdings in Cohen & Steers by 1,172.2% in the third quarter. Covestor Ltd now owns 1,603 shares of the asset manager's stock valued at $154,000 after acquiring an additional 1,477 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Cohen & Steers during the 3rd quarter worth $211,000. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Trading Down 2.4 %

Shares of CNS traded down $2.13 during trading hours on Monday, reaching $85.28. The company had a trading volume of 323,379 shares, compared to its average volume of 207,160. Cohen & Steers, Inc. has a 12-month low of $64.13 and a 12-month high of $110.67. The firm has a 50 day simple moving average of $87.68 and a 200-day simple moving average of $93.51. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 28.71 and a beta of 1.55.

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Cohen & Steers (NYSE:CNS - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.02). Cohen & Steers had a net margin of 29.24% and a return on equity of 33.13%.

Cohen & Steers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.91%. This is an increase from Cohen & Steers's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, March 3rd. Cohen & Steers's payout ratio is presently 83.50%.

About Cohen & Steers

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.