Charles Schwab Investment Management Inc. Grows Holdings in Cohen & Steers, Inc. (NYSE:CNS)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Cohen & Steers, Inc. (NYSE:CNS) by 5.8% in the third quarter, HoldingsChannel reports. The fund owned 951,587 shares of the asset manager’s stock after acquiring an additional 52,103 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Cohen & Steers were worth $91,305,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CNS. Signaturefd LLC lifted 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 purchasing an additional 107 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Cohen & Steers by 16.9% during the third quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after buying an additional 119 shares during the last quarter. Mendel Capital Management LLC boosted its holdings in Cohen & Steers by 3.3% in the third quarter. Mendel Capital Management LLC now owns 4,495 shares of the asset manager’s stock worth $431,000 after acquiring an additional 145 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Cohen & Steers by 5.5% in the second quarter. AQR Capital Management LLC now owns 3,274 shares of the asset manager’s stock worth $238,000 after acquiring an additional 172 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Cohen & Steers by 4.0% during the second quarter. Inspire Investing LLC now owns 4,864 shares of the asset manager’s stock valued at $353,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Stock Performance

Shares of NYSE:CNS opened at $106.60 on Wednesday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 39.78 and a beta of 1.53. The business has a 50-day simple moving average of $98.70 and a two-hundred day simple moving average of $85.48. Cohen & Steers, Inc. has a fifty-two week low of $56.23 and a fifty-two week high of $110.67.

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

Cohen & Steers Dividend Announcement

The company also recently declared 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 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 currently 88.06%.

Analyst Upgrades and Downgrades

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

Cohen & Steers 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.