Louisiana State Employees Retirement System Acquires New Shares in Cohen & Steers, Inc. (NYSE:CNS)

Louisiana State Employees Retirement System purchased a new position in shares of Cohen & Steers, Inc. (NYSE:CNS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,200 shares of the asset manager’s stock, valued at approximately $958,000.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Cohen & Steers by 115.1% during the 2nd quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock worth $27,000 after acquiring an additional 198 shares during the period. Principal Securities Inc. acquired a new position in Cohen & Steers during the 4th quarter worth $28,000. SRS Capital Advisors Inc. boosted its position in Cohen & Steers by 294.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 548 shares of the asset manager’s stock worth $41,000 after acquiring an additional 409 shares during the period. Garner Asset Management Corp acquired a new position in Cohen & Steers during the 4th quarter worth $84,000. Finally, Beacon Pointe Advisors LLC acquired a new position in Cohen & Steers during the 4th quarter worth $209,000. Institutional investors and hedge funds own 51.47% of the company’s stock.

Insider Transactions at Cohen & Steers

In other news, EVP Jon Cheigh sold 12,500 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total transaction of $1,051,000.00. Following the completion of the sale, the executive vice president now directly owns 155,311 shares of the company’s stock, valued at $13,058,548.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $86.45, for a total transaction of $95,095.00. Following the completion of the sale, the chief accounting officer now directly owns 20,091 shares of the company’s stock, valued at $1,736,866.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jon Cheigh sold 12,500 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $84.08, for a total value of $1,051,000.00. Following the sale, the executive vice president now directly owns 155,311 shares of the company’s stock, valued at $13,058,548.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,600 shares of company stock valued at $1,710,365. Corporate insiders own 47.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price target on Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th.

Cohen & Steers Stock Performance

CNS opened at $86.50 on Thursday. Cohen & Steers, Inc. has a one year low of $50.05 and a one year high of $89.64. The stock’s fifty day moving average is $79.79 and its 200-day moving average is $74.56. The company has a market capitalization of $4.37 billion, a PE ratio of 33.66 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Wednesday, July 17th. The asset manager reported $0.68 EPS for the quarter. Cohen & Steers had a return on equity of 36.67% and a net margin of 26.27%. The company had revenue of $121.70 million for the quarter, compared to the consensus estimate of $121.48 million. During the same quarter in the previous year, the business earned $0.70 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Monday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, August 12th. Cohen & Steers’s dividend payout ratio 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.