Commerce Bank Cuts Stock Holdings in Cohen & Steers, Inc. (NYSE:CNS)

Commerce Bank decreased its position in Cohen & Steers, Inc. (NYSE:CNS) by 35.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,844 shares of the asset manager’s stock after selling 2,620 shares during the quarter. Commerce Bank’s holdings in Cohen & Steers were worth $465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CNS. Silvercrest Asset Management Group LLC bought a new position in Cohen & Steers during the 1st quarter valued at approximately $5,193,000. Harbor Capital Advisors Inc. grew its holdings in shares of Cohen & Steers by 292.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,236 shares of the asset manager’s stock worth $888,000 after acquiring an additional 9,119 shares during the period. Creative Planning raised its stake in Cohen & Steers by 9.5% during the second quarter. Creative Planning now owns 11,940 shares of the asset manager’s stock valued at $866,000 after buying an additional 1,034 shares during the last quarter. Rhumbline Advisers grew its position in Cohen & Steers by 101.6% during the 2nd quarter. Rhumbline Advisers now owns 77,146 shares of the asset manager’s stock valued at $5,598,000 after purchasing an additional 38,887 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Cohen & Steers in the 3rd quarter worth about $5,025,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Analysts Set New Price Targets

CNS has been the topic of several research analyst reports. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $63.00 to $102.00 in a research report on Thursday, October 17th. Evercore ISI boosted 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

Shares of CNS opened at $106.60 on Wednesday. Cohen & Steers, Inc. has a one year low of $56.23 and a one year high of $110.67. The stock has a 50-day moving average of $98.70 and a two-hundred day moving average of $85.48. The stock has a market cap of $5.39 billion, a P/E ratio of 39.78 and a beta of 1.53.

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

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.21%. Cohen & Steers’s dividend payout ratio (DPR) is 88.06%.

About Cohen & Steers

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.