Congress Wealth Management LLC DE Has $5.72 Million Stock Position in Cohen & Steers, Inc. (NYSE:CNS)

Congress Wealth Management LLC DE boosted its stake in shares of Cohen & Steers, Inc. (NYSE:CNS) by 14.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 74,358 shares of the asset manager’s stock after buying an additional 9,104 shares during the period. Congress Wealth Management LLC DE owned approximately 0.15% of Cohen & Steers worth $5,717,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in Cohen & Steers during the 4th quarter worth approximately $28,000. SRS Capital Advisors Inc. raised its holdings in Cohen & Steers by 294.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 548 shares of the asset manager’s stock worth $41,000 after buying an additional 409 shares during the period. Garner Asset Management Corp acquired a new stake in Cohen & Steers during the 4th quarter worth approximately $84,000. SG Americas Securities LLC acquired a new stake in Cohen & Steers during the 4th quarter worth approximately $142,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of Cohen & Steers in the fourth quarter valued at approximately $209,000. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jon Cheigh sold 7,159 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $72.57, for a total value of $519,528.63. Following 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 47.04% of the company’s stock.

Analyst Ratings Changes

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

Cohen & Steers Trading Down 2.4 %

Shares of NYSE CNS traded down $1.72 during midday trading on Monday, reaching $70.84. The company’s stock had a trading volume of 219,933 shares, compared to its average volume of 244,091. Cohen & Steers, Inc. has a fifty-two week low of $50.05 and a fifty-two week high of $78.58. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 27.56 and a beta of 1.53. The stock has a 50 day simple moving average of $70.96 and a 200-day simple moving average of $71.56.

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

Cohen & Steers Dividend Announcement

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

About Cohen & Steers

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.