Wasatch Advisors LP Cuts Stock Position in Cohen & Steers, Inc. (NYSE:CNS)

Wasatch Advisors LP reduced its holdings in shares of Cohen & Steers, Inc. (NYSE:CNS - Free Report) by 38.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,878,421 shares of the asset manager's stock after selling 1,153,418 shares during the quarter. Wasatch Advisors LP owned 3.72% of Cohen & Steers worth $173,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNS. Raymond James Financial Inc. acquired a new position in Cohen & Steers during the 4th quarter worth approximately $44,737,000. Norges Bank purchased a new stake in Cohen & Steers during the fourth quarter valued at about $34,166,000. Lord Abbett & CO. LLC bought a new stake in Cohen & Steers during the 3rd quarter valued at $23,988,000. Congress Asset Management Co. lifted its holdings in shares of Cohen & Steers by 22.0% in the fourth quarter. Congress Asset Management Co. now owns 528,082 shares of the asset manager's stock worth $48,763,000 after buying an additional 95,185 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Cohen & Steers by 1,460.1% during the 4th quarter. Fisher Asset Management LLC now owns 99,974 shares of the asset manager's stock valued at $9,232,000 after purchasing an additional 93,566 shares in the last quarter. 51.47% of the stock is owned by institutional investors.

Cohen & Steers Price Performance

Cohen & Steers stock traded up $0.50 during trading hours on Friday, reaching $74.39. The company had a trading volume of 335,800 shares, compared to its average volume of 237,258. The company has a 50-day moving average price of $80.32 and a 200 day moving average price of $90.40. Cohen & Steers, Inc. has a 12-month low of $67.09 and a 12-month high of $110.67. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 25.05 and a beta of 1.46.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The asset manager reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.01). The business had revenue of $133.79 million during the quarter, compared to the consensus estimate of $130.64 million. Cohen & Steers had a return on equity of 33.13% and a net margin of 29.24%. During the same quarter in the prior year, the business posted $0.68 earnings per share.

Cohen & Steers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.62 per share. This is an increase from Cohen & Steers's previous quarterly dividend of $0.59. The ex-dividend date was Monday, March 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.33%. Cohen & Steers's dividend payout ratio is 83.50%.

Analysts Set New Price Targets

Separately, Evercore ISI dropped their price target on Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating for the company in a research note on Friday, April 11th.

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.