CIBC Asset Management Inc Invests $243,000 in Cohen & Steers, Inc. (NYSE:CNS)

CIBC Asset Management Inc bought a new stake in shares of Cohen & Steers, Inc. (NYSE:CNS) in the 3rd quarter, HoldingsChannel reports. The fund bought 2,535 shares of the asset manager’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Cohen & Steers by 3,638.5% during the 2nd quarter. Principal Financial Group Inc. now owns 130,774 shares of the asset manager’s stock worth $9,489,000 after buying an additional 127,276 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Cohen & Steers during the 1st quarter worth about $5,193,000. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 111,649 shares in the last quarter. Hsbc Holdings PLC lifted its position in Cohen & Steers by 91.1% in the 2nd quarter. Hsbc Holdings PLC now owns 132,193 shares of the asset manager’s stock worth $9,590,000 after buying an additional 63,019 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in Cohen & Steers during the second quarter valued at $4,199,000. Institutional investors and hedge funds own 51.47% of the company’s stock.

Cohen & Steers Stock Performance

Shares of NYSE:CNS opened at $103.44 on Friday. The company’s fifty day moving average is $98.47 and its 200-day moving average is $85.07. Cohen & Steers, Inc. has a 52 week low of $56.23 and a 52 week high of $110.67. The company has a market capitalization of $5.23 billion, a PE ratio of 38.60 and a beta of 1.53.

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

Cohen & Steers Dividend Announcement

The company 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 $0.59 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.36 annualized dividend and a dividend yield of 2.28%. Cohen & Steers’s dividend payout ratio (DPR) is currently 88.06%.

Analyst Upgrades and Downgrades

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

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.