Lord Abbett & CO. LLC Sells 25,000 Shares of Cohen & Steers, Inc. (NYSE:CNS)

Lord Abbett & CO. LLC lowered its holdings in shares of Cohen & Steers, Inc. (NYSE:CNS) by 10.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 225,000 shares of the asset manager’s stock after selling 25,000 shares during the period. Lord Abbett & CO. LLC owned 0.45% of Cohen & Steers worth $20,777,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cohen & Steers by 21.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,391 shares of the asset manager’s stock worth $1,810,000 after acquiring an additional 3,366 shares during the period. Principal Financial Group Inc. boosted its position in Cohen & Steers by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 130,825 shares of the asset manager’s stock worth $12,080,000 after purchasing an additional 3,835 shares during the period. Norges Bank acquired a new position in shares of Cohen & Steers in the fourth quarter valued at $34,166,000. Pillar Financial Advisors LLC bought a new position in shares of Cohen & Steers in the fourth quarter valued at about $575,000. Finally, Barclays PLC lifted its stake in shares of Cohen & Steers by 286.1% during the 3rd quarter. Barclays PLC now owns 50,765 shares of the asset manager’s stock worth $4,871,000 after buying an additional 37,616 shares during the last quarter. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Price Performance

CNS opened at $76.16 on Friday. The company has a market capitalization of $3.88 billion, a PE ratio of 25.64 and a beta of 1.46. The business has a fifty day simple moving average of $79.27 and a 200 day simple moving average of $89.77. Cohen & Steers, Inc. has a 1 year low of $67.09 and a 1 year high of $110.67.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Wednesday, April 16th. The asset manager reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). Cohen & Steers had a net margin of 29.24% and a return on equity of 33.13%. The business had revenue of $133.79 million during the quarter, compared to analyst estimates of $130.64 million. During the same quarter last year, the company posted $0.68 earnings per share.

Cohen & Steers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. Cohen & Steers’s dividend payout ratio (DPR) is currently 81.05%.

Wall Street Analyst Weigh In

Separately, Evercore ISI lowered their price target on shares of Cohen & Steers from $94.00 to $78.00 and set an “outperform” rating on the stock in a report on Friday, April 11th.

Cohen & Steers Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.