IMC Chicago LLC Purchases New Position in Cohen & Steers Inc $CNS

IMC Chicago LLC purchased a new position in Cohen & Steers Inc (NYSE:CNS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,058 shares of the asset manager’s stock, valued at approximately $537,000.

Several other institutional investors and hedge funds have also bought and sold shares of CNS. Navellier & Associates Inc. purchased a new position in shares of Cohen & Steers during the 4th quarter worth approximately $3,586,000. Gabelli Funds LLC lifted its stake in shares of Cohen & Steers by 38.0% in the 1st quarter. Gabelli Funds LLC now owns 190,395 shares of the asset manager’s stock valued at $11,909,000 after purchasing an additional 52,400 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Cohen & Steers in the 2nd quarter valued at approximately $5,021,000. Norges Bank purchased a new position in shares of Cohen & Steers in the 4th quarter valued at approximately $30,232,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Cohen & Steers by 40.5% during the fourth quarter. Teacher Retirement System of Texas now owns 99,778 shares of the asset manager’s stock valued at $6,264,000 after purchasing an additional 28,740 shares in the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Cohen & Steers Stock Down 0.1%

Cohen & Steers stock opened at $84.69 on Monday. The company has a market capitalization of $4.35 billion, a P/E ratio of 25.98, a PEG ratio of 2.07 and a beta of 1.21. The stock’s 50 day moving average is $79.41 and its 200 day moving average is $71.16. Cohen & Steers Inc has a twelve month low of $58.39 and a twelve month high of $86.56.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The company had revenue of $151.84 million for the quarter, compared to analysts’ expectations of $149.45 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts expect that Cohen & Steers Inc will post 3.53 EPS for the current year.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be issued 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 (DPR) is presently 82.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Evercore reaffirmed an “outperform” rating and issued a $88.00 price target on shares of Cohen & Steers in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $78.00.

Insider Buying and Selling at Cohen & Steers

In other news, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $83.16, for a total value of $91,476.00. Following the transaction, the chief accounting officer owned 22,146 shares in the company, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Daniel Noonan sold 4,360 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the transaction, the executive vice president directly owned 28,682 shares in the company, valued at $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 45.40% of the stock is owned by company insiders.

About Cohen & Steers

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).