Geode Capital Management LLC Grows Stake in Cohen & Steers, Inc. (NYSE:CNS)

Geode Capital Management LLC lifted its holdings in Cohen & Steers, Inc. (NYSE:CNS) by 4.9% in the third quarter, Holdings Channel reports. The firm owned 709,323 shares of the asset manager’s stock after buying an additional 33,414 shares during the period. Geode Capital Management LLC’s holdings in Cohen & Steers were worth $68,071,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Cohen & Steers during the third quarter worth about $31,000. GAMMA Investing LLC raised its holdings in shares of Cohen & Steers by 64.9% in the third quarter. GAMMA Investing LLC now owns 610 shares of the asset manager’s stock worth $59,000 after buying an additional 240 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Cohen & Steers by 19.8% during the third quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after buying an additional 107 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Cohen & Steers by 16.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after purchasing an additional 119 shares during the last quarter. Finally, KBC Group NV acquired a new position in Cohen & Steers in the 3rd quarter worth approximately $106,000. 51.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group raised shares of Cohen & Steers from a “sell” rating to a “neutral” rating and upped their price target for the company from $63.00 to $102.00 in a 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 Cohen & Steers stock opened at $92.49 on Friday. The firm has a 50-day simple moving average of $100.87 and a two-hundred day simple moving average of $89.07. Cohen & Steers, Inc. has a fifty-two week low of $64.13 and a fifty-two week high of $110.67. The company has a market cap of $4.68 billion, a P/E ratio of 34.51 and a beta of 1.52.

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

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $0.59 per share. The ex-dividend date was Monday, November 18th. This represents a $2.36 annualized dividend and a yield of 2.55%. Cohen & Steers’s dividend payout ratio is presently 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.