Moody National Bank Trust Division Acquires New Holdings in Cohen & Steers Inc $CNS

Moody National Bank Trust Division bought a new position in shares of Cohen & Steers Inc (NYSE:CNS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,521 shares of the asset manager’s stock, valued at approximately $1,334,000.

A number of other institutional investors have also recently added to or reduced their stakes in CNS. Goldman Sachs Group Inc. increased its position in Cohen & Steers by 215.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,149 shares of the asset manager’s stock valued at $48,350,000 after acquiring an additional 526,096 shares during the period. Norges Bank acquired a new position in shares of Cohen & Steers during the fourth quarter worth $30,232,000. Millennium Management LLC lifted its holdings in shares of Cohen & Steers by 385.6% during the fourth quarter. Millennium Management LLC now owns 438,826 shares of the asset manager’s stock worth $27,549,000 after purchasing an additional 348,452 shares during the period. Wasatch Advisors LP grew its stake in shares of Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after purchasing an additional 323,759 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Cohen & Steers in the third quarter worth $12,138,000. 51.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNS shares. Evercore restated an “outperform” rating and issued a $84.00 price objective on shares of Cohen & Steers in a report on Friday, July 10th. Weiss Ratings raised Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.00.

Cohen & Steers Price Performance

Shares of CNS stock opened at $84.22 on Thursday. The stock has a market capitalization of $4.33 billion, a PE ratio of 25.84, a PEG ratio of 2.07 and a beta of 1.21. The business’s 50 day simple moving average is $77.57 and its 200 day simple moving average is $70.37. Cohen & Steers Inc has a one year low of $58.39 and a one year high of $85.63.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $151.84 million for the quarter, compared to the consensus estimate of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. As a group, research analysts expect that Cohen & Steers Inc will post 3.49 earnings per share for the current year.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a dividend of $0.67 per share. The ex-dividend date is Monday, August 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Cohen & Steers’s dividend payout ratio is 82.21%.

Insiders Place Their Bets

In related news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the transaction, the executive vice president owned 28,682 shares of the company’s stock, valued at $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the transaction, the chief accounting officer owned 22,146 shares in the company, valued at approximately $1,841,661.36. The trade was a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 45.40% of the stock is owned by company insiders.

Cohen & Steers Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).