Legal & General Group Plc Boosts Position in Cohen & Steers, Inc. (NYSE:CNS)

Legal & General Group Plc raised its stake in Cohen & Steers, Inc. (NYSE:CNS) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,671 shares of the asset manager’s stock after acquiring an additional 289 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of Cohen & Steers worth $7,726,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in shares of Cohen & Steers during the third quarter worth $32,000. GAMMA Investing LLC grew its stake in shares of Cohen & Steers by 19.5% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the asset manager’s stock valued at $67,000 after buying an additional 119 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Cohen & Steers during the fourth quarter worth $73,000. Harvest Fund Management Co. Ltd purchased a new stake in Cohen & Steers during the 4th quarter worth about $101,000. Finally, KBC Group NV raised its position in Cohen & Steers by 27.4% in the 4th quarter. KBC Group NV now owns 1,412 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 304 shares in the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cohen & Steers Trading Up 0.7 %

CNS stock opened at $74.39 on Friday. The company’s 50 day moving average is $80.32 and its two-hundred day moving average is $90.40. Cohen & Steers, Inc. has a twelve month low of $67.09 and a twelve month high of $110.67. The stock has a market cap of $3.79 billion, a P/E ratio of 25.05 and a beta of 1.46.

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

Cohen & Steers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, March 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.33%. Cohen & Steers’s dividend payout ratio (DPR) is 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.