Congress Wealth Management LLC DE Buys 9,104 Shares of Cohen & Steers, Inc. (NYSE:CNS)

Congress Wealth Management LLC DE grew its holdings in shares of Cohen & Steers, Inc. (NYSE:CNS) by 14.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 74,358 shares of the asset manager’s stock after purchasing an additional 9,104 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Cohen & Steers were worth $5,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNS. Wasatch Advisors LP boosted its holdings in shares of Cohen & Steers by 54.2% during the 4th quarter. Wasatch Advisors LP now owns 2,420,663 shares of the asset manager’s stock worth $183,317,000 after buying an additional 851,125 shares in the last quarter. Norges Bank bought a new position in shares of Cohen & Steers during the 4th quarter worth approximately $26,957,000. Invesco Ltd. raised its position in shares of Cohen & Steers by 421.4% during the third quarter. Invesco Ltd. now owns 233,931 shares of the asset manager’s stock worth $14,665,000 after purchasing an additional 189,066 shares during the period. Raymond James & Associates raised its position in shares of Cohen & Steers by 38.8% during the fourth quarter. Raymond James & Associates now owns 200,944 shares of the asset manager’s stock worth $15,217,000 after purchasing an additional 56,153 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Cohen & Steers by 44.7% during the third quarter. Envestnet Asset Management Inc. now owns 158,076 shares of the asset manager’s stock worth $9,910,000 after purchasing an additional 48,836 shares during the period. 51.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, UBS Group lowered their target price on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research report on Friday, April 12th.

Cohen & Steers Price Performance

Shares of NYSE:CNS traded down $1.72 during trading on Monday, reaching $70.84. 219,933 shares of the stock were exchanged, compared to its average volume of 244,091. Cohen & Steers, Inc. has a 1-year low of $50.05 and a 1-year high of $78.58. The stock has a fifty day moving average of $70.96 and a two-hundred day moving average of $71.56. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 27.56 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $122.71 million for the quarter, compared to analyst estimates of $125.01 million. Cohen & Steers had a return on equity of 36.67% and a net margin of 26.27%. Cohen & Steers’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Monday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, May 10th. Cohen & Steers’s payout ratio is currently 91.83%.

Insider Activity at Cohen & Steers

In related news, EVP Jon Cheigh sold 7,159 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $72.57, for a total value of $519,528.63. Following the completion of the sale, the executive vice president now directly owns 167,018 shares of the company’s stock, valued at approximately $12,120,496.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 47.04% of the stock is currently owned by insiders.

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.