JPMorgan Chase & Co. Cuts Stock Holdings in Cohen & Steers Inc $CNS

JPMorgan Chase & Co. lowered its position in Cohen & Steers Inc (NYSE:CNS) by 22.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,520 shares of the asset manager’s stock after selling 29,199 shares during the period. JPMorgan Chase & Co. owned about 0.20% of Cohen & Steers worth $6,661,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Cohen & Steers during the 2nd quarter valued at approximately $27,880,000. Wasatch Advisors LP raised its holdings in shares of Cohen & Steers by 15.1% in the 2nd 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 period. Freestone Grove Partners LP purchased a new position in Cohen & Steers in the third quarter valued at approximately $12,138,000. Bourgeon Capital Management LLC purchased a new position in Cohen & Steers in the third quarter valued at approximately $9,554,000. Finally, Balyasny Asset Management L.P. grew its holdings in Cohen & Steers by 107.4% during the second quarter. Balyasny Asset Management L.P. now owns 190,077 shares of the asset manager’s stock valued at $14,322,000 after purchasing an additional 98,431 shares during the period. 51.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research upgraded Cohen & Steers from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.50.

Cohen & Steers Trading Up 1.9%

CNS opened at $62.54 on Wednesday. Cohen & Steers Inc has a 12 month low of $58.39 and a 12 month high of $83.99. The company has a market cap of $3.21 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. The company has a 50 day moving average of $64.74 and a 200 day moving average of $65.38.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Thursday, January 22nd. The asset manager reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. Cohen & Steers had a net margin of 27.55% and a return on equity of 28.46%. The business had revenue of $143.79 million for the quarter, compared to analysts’ expectations of $144.30 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year.

Cohen & Steers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, March 9th. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.62. Cohen & Steers’s dividend payout ratio is presently 89.93%.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, EVP Francis C. Poli sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $65.73, for a total value of $657,300.00. Following the completion of the transaction, the executive vice president owned 55,675 shares in the company, valued at $3,659,517.75. This trade represents a 15.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 45.40% of the company’s stock.

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).