Assetmark Inc. Lowers Stake in Cohen & Steers, Inc. (NYSE:CNS)

Assetmark Inc. reduced its stake in shares of Cohen & Steers, Inc. (NYSE:CNS) by 36.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 477 shares of the asset manager’s stock after selling 270 shares during the period. Assetmark Inc.’s holdings in Cohen & Steers were worth $46,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Cohen & Steers by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,176,861 shares of the asset manager’s stock valued at $85,390,000 after purchasing an additional 35,905 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Cohen & Steers by 1.0% during the third quarter. Copeland Capital Management LLC now owns 1,091,097 shares of the asset manager’s stock worth $104,691,000 after acquiring an additional 10,420 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Cohen & Steers by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 937,797 shares of the asset manager’s stock worth $68,047,000 after acquiring an additional 9,960 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cohen & Steers by 20.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,835 shares of the asset manager’s stock valued at $46,934,000 after purchasing an additional 111,649 shares during the last quarter. Finally, Congress Asset Management Co. grew its holdings in shares of Cohen & Steers by 3.4% during the 3rd quarter. Congress Asset Management Co. now owns 432,897 shares of the asset manager’s stock valued at $41,536,000 after purchasing an additional 14,370 shares during the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Cohen & Steers Price Performance

CNS opened at $99.89 on Tuesday. Cohen & Steers, Inc. has a one year low of $56.04 and a one year high of $110.67. The business has a 50 day simple moving average of $97.54 and a two-hundred day simple moving average of $84.42. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 37.27 and a beta of 1.53.

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

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Monday, November 18th. Cohen & Steers’s payout ratio is 88.06%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNS. UBS Group upgraded shares of Cohen & Steers from a “sell” rating to a “neutral” rating and upped their price target for the company from $63.00 to $102.00 in a research report on Thursday, October 17th. Evercore ISI increased their target price on Cohen & Steers from $110.00 to $111.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

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.