JPMorgan Chase & Co. Reduces Position in Cohen & Steers, Inc. (NYSE:CNS)

JPMorgan Chase & Co. decreased its position in shares of Cohen & Steers, Inc. (NYSE:CNS - Free Report) by 23.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,438 shares of the asset manager's stock after selling 26,437 shares during the period. JPMorgan Chase & Co. owned 0.17% of Cohen & Steers worth $8,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Cohen & Steers during the 3rd quarter worth $31,000. Westside Investment Management Inc. purchased a new stake in shares of Cohen & Steers during the third quarter worth about $32,000. GAMMA Investing LLC increased its holdings in shares of Cohen & Steers by 64.9% during the third quarter. GAMMA Investing LLC now owns 610 shares of the asset manager's stock valued at $59,000 after acquiring an additional 240 shares in the last quarter. Signaturefd LLC raised its position in shares of Cohen & Steers by 19.8% in the 3rd quarter. Signaturefd LLC now owns 648 shares of the asset manager's stock valued at $62,000 after purchasing an additional 107 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Cohen & Steers by 16.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager's stock valued at $79,000 after purchasing an additional 119 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Price Performance

NYSE:CNS traded up $1.20 during midday trading on Tuesday, hitting $85.87. The company's stock had a trading volume of 100,329 shares, compared to its average volume of 161,323. Cohen & Steers, Inc. has a fifty-two week low of $64.13 and a fifty-two week high of $110.67. The firm has a market cap of $4.34 billion, a P/E ratio of 32.04 and a beta of 1.55. The firm's 50 day moving average is $97.74 and its 200-day moving average is $91.64.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Cohen & Steers had a net margin of 27.23% and a return on equity of 32.75%. The firm had revenue of $133.20 million during the quarter, compared to analysts' expectations of $124.18 million. During the same quarter last year, the company posted $0.70 earnings per share. The firm's revenue was up 7.7% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, November 18th. Cohen & Steers's payout ratio is presently 88.06%.

Analyst Ratings Changes

A number of brokerages have issued reports on CNS. Evercore ISI upped their price target on shares of Cohen & Steers from $110.00 to $111.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. UBS Group raised Cohen & Steers from a "sell" rating to a "neutral" rating and upped their target price for the company from $63.00 to $102.00 in a research report on Thursday, October 17th.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.