PNC Financial Services Group Inc. Sells 241 Shares of Cohen & Steers, Inc. (NYSE:CNS)

PNC Financial Services Group Inc. trimmed its position in shares of Cohen & Steers, Inc. (NYSE:CNS) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,072 shares of the asset manager’s stock after selling 241 shares during the period. PNC Financial Services Group Inc.’s holdings in Cohen & Steers were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in shares of Cohen & Steers during the fourth quarter valued at about $28,000. SRS Capital Advisors Inc. increased its position in shares of Cohen & Steers by 294.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 548 shares of the asset manager’s stock valued at $41,000 after buying an additional 409 shares during the period. Garner Asset Management Corp purchased a new position in shares of Cohen & Steers during the fourth quarter valued at about $84,000. SG Americas Securities LLC purchased a new position in shares of Cohen & Steers during the fourth quarter valued at about $142,000. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Cohen & Steers during the fourth quarter valued at about $209,000. 51.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their price target on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research report on Friday, April 12th.

Insiders Place Their Bets

In other news, EVP Jon Cheigh sold 7,159 shares of the company’s stock in a transaction that occurred on 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 owns 167,018 shares in the company, valued at $12,120,496.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 47.60% of the company’s stock.

Cohen & Steers Stock Performance

Shares of CNS opened at $70.75 on Friday. The stock has a market cap of $3.58 billion, a PE ratio of 27.53 and a beta of 1.49. Cohen & Steers, Inc. has a fifty-two week low of $50.05 and a fifty-two week high of $78.58. The firm’s 50-day simple moving average is $70.93 and its two-hundred day simple moving average is $71.44.

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

Cohen & Steers Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, May 10th. Cohen & Steers’s dividend payout ratio (DPR) is presently 91.83%.

Cohen & Steers Company 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.