Principal Financial Group Inc. Boosts Stake in Cohen & Steers, Inc. (NYSE:CNS)

Principal Financial Group Inc. increased its holdings in shares of Cohen & Steers, Inc. (NYSE:CNS) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,825 shares of the asset manager’s stock after purchasing an additional 3,835 shares during the quarter. Principal Financial Group Inc. owned 0.26% of Cohen & Steers worth $12,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CNS. Monument Capital Management lifted its stake in Cohen & Steers by 6.6% during the 4th quarter. Monument Capital Management now owns 2,998 shares of the asset manager’s stock valued at $277,000 after acquiring an additional 186 shares during the period. Congress Asset Management Co. raised its holdings in shares of Cohen & Steers by 22.0% during the fourth quarter. Congress Asset Management Co. now owns 528,082 shares of the asset manager’s stock valued at $48,763,000 after purchasing an additional 95,185 shares during the last quarter. Consolidated Planning Corp bought a new position in Cohen & Steers during the fourth quarter valued at approximately $517,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cohen & Steers by 21.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,391 shares of the asset manager’s stock worth $1,810,000 after purchasing an additional 3,366 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in Cohen & Steers by 0.5% in the fourth quarter. Copeland Capital Management LLC now owns 1,096,400 shares of the asset manager’s stock worth $101,242,000 after purchasing an additional 5,303 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI increased their price target 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 Stock Performance

CNS stock opened at $86.25 on Friday. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 29.04 and a beta of 1.56. The business’s 50-day moving average is $88.66 and its two-hundred day moving average is $93.33. Cohen & Steers, Inc. has a fifty-two week low of $64.13 and a fifty-two week high of $110.67.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, January 22nd. The asset manager reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). Cohen & Steers had a net margin of 29.24% and a return on equity of 33.13%.

Cohen & Steers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, March 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.88%. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, March 3rd. Cohen & Steers’s dividend payout ratio 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.