Lord Abbett & CO. LLC Acquires Shares of 250,000 Cohen & Steers, Inc. (NYSE:CNS)

Lord Abbett & CO. LLC bought a new position in Cohen & Steers, Inc. (NYSE:CNS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 250,000 shares of the asset manager’s stock, valued at approximately $23,988,000.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Cohen & Steers during the third quarter worth $31,000. Westside Investment Management Inc. bought a new position in shares of Cohen & Steers in the 3rd quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in shares of Cohen & Steers by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 610 shares of the asset manager’s stock valued at $59,000 after buying an additional 240 shares during the period. Signaturefd LLC grew its position in shares of Cohen & Steers by 19.8% during the 3rd quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after buying an additional 107 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Cohen & Steers by 16.9% during the third quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock worth $79,000 after acquiring an additional 119 shares during the period. 51.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Evercore ISI lifted their target price on Cohen & Steers from $110.00 to $111.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and raised their target price for the company from $63.00 to $102.00 in a research note on Thursday, October 17th.

Cohen & Steers Trading Down 1.6 %

CNS opened at $99.04 on Monday. The business’s 50 day moving average is $100.69 and its 200-day moving average is $88.50. The stock has a market cap of $5.01 billion, a PE ratio of 36.96 and a beta of 1.52. Cohen & Steers, Inc. has a twelve month low of $64.13 and a twelve month high of $110.67.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Cohen & Steers had a return on equity of 32.75% and a net margin of 27.23%. The firm had revenue of $133.20 million for the quarter, compared to the consensus estimate of $124.18 million. During the same quarter in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.36 dividend on an annualized basis and a yield of 2.38%. Cohen & Steers’s dividend payout ratio is presently 88.06%.

Cohen & Steers Profile

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.