Lord Abbett & CO. LLC Makes New $23.99 Million Investment in Cohen & Steers, Inc. (NYSE:CNS)

Lord Abbett & CO. LLC acquired a new stake in shares of Cohen & Steers, Inc. (NYSE:CNS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 250,000 shares of the asset manager's stock, valued at approximately $23,988,000. Lord Abbett & CO. LLC owned about 0.49% of Cohen & Steers at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CNS. Ashton Thomas Securities LLC purchased a new stake in Cohen & Steers in the third quarter valued at approximately $31,000. Westside Investment Management Inc. purchased a new stake in shares of Cohen & Steers during the 3rd quarter valued at $32,000. GAMMA Investing LLC increased its holdings in shares of Cohen & Steers by 64.9% during the 3rd quarter. GAMMA Investing LLC now owns 610 shares of the asset manager's stock worth $59,000 after buying an additional 240 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Cohen & Steers by 19.8% during the 3rd quarter. Signaturefd LLC now owns 648 shares of the asset manager's stock worth $62,000 after buying 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 worth $79,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 51.47% of the company's stock.

Analyst Ratings Changes

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

Cohen & Steers Trading Down 0.6 %

NYSE:CNS traded down $0.60 during mid-day trading on Monday, hitting $98.44. The company had a trading volume of 153,548 shares, compared to its average volume of 219,899. The business has a fifty day simple moving average of $100.83 and a 200-day simple moving average of $88.71. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 36.73 and a beta of 1.52. Cohen & Steers, Inc. has a 1 year low of $64.13 and a 1 year high of $110.67.

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

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.36 annualized dividend and a dividend yield of 2.40%. Cohen & Steers's dividend payout ratio (DPR) is presently 88.06%.

Cohen & Steers 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.