PNC Financial Services Group Inc. Sells 562 Shares of Cohen & Steers, Inc. (NYSE:CNS)

PNC Financial Services Group Inc. lowered its holdings in Cohen & Steers, Inc. (NYSE:CNS) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,592 shares of the asset manager’s stock after selling 562 shares during the period. PNC Financial Services Group Inc.’s holdings in Cohen & Steers were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CNS. KBC Group NV bought a new position in Cohen & Steers in the third quarter valued at $106,000. CIBC Asset Management Inc bought a new position in Cohen & Steers in the third quarter valued at $243,000. Intech Investment Management LLC bought a new position in Cohen & Steers in the third quarter valued at $629,000. Charles Schwab Investment Management Inc. grew its position in Cohen & Steers by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 951,587 shares of the asset manager’s stock valued at $91,305,000 after purchasing an additional 52,103 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new position in Cohen & Steers in the third quarter valued at $615,000. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Price Performance

Shares of CNS stock opened at $78.77 on Friday. The stock has a market cap of $4.01 billion, a P/E ratio of 26.52 and a beta of 1.55. The company has a fifty day moving average price of $85.38 and a two-hundred day moving average price of $92.83. Cohen & Steers, Inc. has a one year low of $64.13 and a one year high of $110.67.

Cohen & Steers (NYSE:CNS) last announced its quarterly 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, March 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 3.15%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.59. Cohen & Steers’s dividend payout ratio (DPR) is currently 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.