PNC Financial Services Group Inc. Has $460,000 Stock Holdings in Cohen & Steers, Inc. (NYSE:CNS)

PNC Financial Services Group Inc. lessened its stake in shares of Cohen & Steers, Inc. (NYSE:CNS) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,072 shares of the asset manager’s stock after selling 241 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cohen & Steers were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CNS. Deutsche Bank AG lifted its stake in shares of Cohen & Steers by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 14,015 shares of the asset manager’s stock worth $879,000 after buying an additional 1,641 shares during the last quarter. Rhumbline Advisers raised its stake in Cohen & Steers by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 37,790 shares of the asset manager’s stock worth $2,369,000 after purchasing an additional 665 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Cohen & Steers in the 3rd quarter worth about $318,000. Envestnet Asset Management Inc. raised its stake in Cohen & Steers by 44.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 158,076 shares of the asset manager’s stock worth $9,910,000 after purchasing an additional 48,836 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Cohen & Steers by 421.4% in the 3rd quarter. Invesco Ltd. now owns 233,931 shares of the asset manager’s stock worth $14,665,000 after purchasing an additional 189,066 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a research note on Friday, April 12th.

Cohen & Steers Stock Up 0.7 %

CNS stock opened at $70.75 on Friday. Cohen & Steers, Inc. has a 12 month low of $50.05 and a 12 month high of $78.58. The firm has a market cap of $3.58 billion, a P/E ratio of 27.53 and a beta of 1.49. The company’s 50-day moving average price is $70.93 and its two-hundred day moving average price is $71.44.

Cohen & Steers (NYSE:CNS) last released its earnings results on Thursday, April 18th. The asset manager reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). Cohen & Steers had a net margin of 26.27% and a return on equity of 36.67%. The firm had revenue of $122.71 million during the quarter, compared to the consensus estimate of $125.01 million. During the same period in the prior year, the business earned $0.76 earnings per share. Cohen & Steers’s quarterly revenue was down 2.7% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, May 10th. Cohen & Steers’s dividend payout ratio is currently 91.83%.

Insider Buying and Selling at Cohen & Steers

In other Cohen & Steers news, EVP Jon Cheigh sold 7,159 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $72.57, for a total value of $519,528.63. Following the transaction, the executive vice president now directly owns 167,018 shares of the company’s stock, valued at approximately $12,120,496.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 47.60% of the company’s stock.

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.