Legato Capital Management LLC Buys New Stake in Cohen & Steers Inc $CNS

Legato Capital Management LLC bought a new stake in Cohen & Steers Inc (NYSE:CNS) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 19,258 shares of the asset manager’s stock, valued at approximately $1,209,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Covestor Ltd lifted its stake in Cohen & Steers by 31.7% in the 4th quarter. Covestor Ltd now owns 2,536 shares of the asset manager’s stock valued at $159,000 after buying an additional 611 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Cohen & Steers by 21.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the asset manager’s stock valued at $254,000 after buying an additional 717 shares in the last quarter. ProShare Advisors LLC lifted its stake in Cohen & Steers by 10.6% in the 4th quarter. ProShare Advisors LLC now owns 100,595 shares of the asset manager’s stock valued at $6,315,000 after buying an additional 9,661 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Cohen & Steers by 4.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 293,350 shares of the asset manager’s stock valued at $18,417,000 after buying an additional 12,507 shares in the last quarter. Finally, Gabelli Funds LLC purchased a new stake in Cohen & Steers in the 4th quarter valued at approximately $8,663,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Wall Street Analysts Forecast Growth

CNS has been the topic of a number of recent research reports. Evercore set a $76.00 target price on Cohen & Steers in a research note on Monday, April 20th. Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Weiss Ratings raised Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. One investment 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 presently has an average rating of “Hold” and an average price target of $72.00.

Cohen & Steers Stock Up 0.0%

Shares of Cohen & Steers stock opened at $71.85 on Monday. Cohen & Steers Inc has a fifty-two week low of $58.39 and a fifty-two week high of $78.86. The firm has a market cap of $3.69 billion, a PE ratio of 23.71, a P/E/G ratio of 2.04 and a beta of 1.27. The business’s fifty day moving average is $66.58 and its two-hundred day moving average is $65.43.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The business had revenue of $144.26 million for the quarter, compared to analysts’ expectations of $140.62 million. During the same period in the prior year, the company earned $0.75 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Cohen & Steers Inc will post 3.38 EPS for the current year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 11th. Cohen & Steers’s dividend payout ratio is currently 88.45%.

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).