Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Cohen & Steers, Inc. (NYSE:CNS)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cohen & Steers, Inc. (NYSE:CNS) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,754 shares of the asset manager’s stock after purchasing an additional 746 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cohen & Steers were worth $1,193,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in Cohen & Steers by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,656,602 shares of the asset manager’s stock valued at $103,852,000 after purchasing an additional 34,229 shares during the last quarter. Copeland Capital Management LLC boosted its position in Cohen & Steers by 2.8% during the fourth quarter. Copeland Capital Management LLC now owns 1,048,411 shares of the asset manager’s stock worth $79,396,000 after acquiring an additional 28,709 shares during the last quarter. Boston Trust Walden Corp grew its stake in Cohen & Steers by 0.6% during the 4th quarter. Boston Trust Walden Corp now owns 931,810 shares of the asset manager’s stock valued at $70,566,000 after acquiring an additional 5,450 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cohen & Steers by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 672,011 shares of the asset manager’s stock valued at $42,128,000 after acquiring an additional 30,924 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Cohen & Steers by 5.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 539,370 shares of the asset manager’s stock worth $33,813,000 after purchasing an additional 28,966 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

Cohen & Steers Stock Performance

CNS stock opened at $69.72 on Tuesday. The firm has a market cap of $3.45 billion, a PE ratio of 27.13 and a beta of 1.45. Cohen & Steers, Inc. has a one year low of $50.05 and a one year high of $78.58. The firm’s 50 day moving average price is $72.47 and its 200-day moving average price is $66.70.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $122.71 million during the quarter, compared to analyst estimates of $125.01 million. Cohen & Steers had a net margin of 26.27% and a return on equity of 36.96%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS.

Cohen & Steers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, March 4th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, March 1st. Cohen & Steers’s payout ratio is 91.83%.

Insider Transactions at Cohen & Steers

In related news, Director Richard P. Simon sold 3,058 shares of Cohen & Steers stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the completion of the sale, the director now owns 21,915 shares in the company, valued at approximately $1,573,716.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard P. Simon sold 3,058 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $71.81, for a total transaction of $219,594.98. Following the completion of the transaction, the director now directly owns 21,915 shares in the company, valued at approximately $1,573,716.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $71.76, for a total transaction of $498,157.92. Following the sale, the director now owns 24,973 shares in the company, valued at $1,792,062.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,000 shares of company stock worth $1,009,713. 47.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

CNS has been the topic of a number of recent research reports. TheStreet raised Cohen & Steers from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. UBS Group dropped their price objective on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a report on Friday, April 12th.

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.