Bank of New York Mellon Corp Decreases Stake in Cohen & Steers Inc (NYSE:CNS)

Bank of New York Mellon Corp trimmed its holdings in Cohen & Steers Inc (NYSE:CNS) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 404,651 shares of the asset manager’s stock after selling 46,727 shares during the period. Bank of New York Mellon Corp’s holdings in Cohen & Steers were worth $32,473,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its position in Cohen & Steers by 101.9% in the 1st quarter. Fifth Third Bancorp now owns 654 shares of the asset manager’s stock worth $52,000 after purchasing an additional 330 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cohen & Steers in the 4th quarter worth approximately $60,000. GAMMA Investing LLC lifted its position in shares of Cohen & Steers by 36.1% during the 1st quarter. GAMMA Investing LLC now owns 992 shares of the asset manager’s stock worth $80,000 after buying an additional 263 shares during the period. Johnson Financial Group Inc. lifted its position in shares of Cohen & Steers by 926.0% during the 4th quarter. Johnson Financial Group Inc. now owns 1,026 shares of the asset manager’s stock worth $91,000 after buying an additional 926 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Cohen & Steers during the 4th quarter worth approximately $101,000. 51.47% of the stock is currently owned by institutional investors.

Cohen & Steers Stock Performance

Shares of NYSE:CNS opened at $74.31 on Wednesday. Cohen & Steers Inc has a 52-week low of $68.99 and a 52-week high of $110.67. The firm has a market capitalization of $3.79 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.53 and a beta of 1.32. The stock has a 50 day moving average price of $77.39 and a 200-day moving average price of $80.82.

Cohen & Steers (NYSE:CNS) last released its earnings results on Wednesday, April 16th. The asset manager reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $133.79 million for the quarter, compared to analysts’ expectations of $130.64 million. Cohen & Steers had a net margin of 29.68% and a return on equity of 30.46%. During the same quarter last year, the firm posted $0.68 earnings per share.

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.48 annualized dividend and a yield of 3.34%. Cohen & Steers’s dividend payout ratio (DPR) is currently 81.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CNS. Bank of America assumed coverage on Cohen & Steers in a report on Monday, June 30th. They set an “underperform” rating and a $67.00 target price on the stock. Evercore ISI dropped their price objective on Cohen & Steers from $94.00 to $78.00 and set an “outperform” rating for the company in a report 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.