TIAA CREF Investment Management LLC decreased its position in Cohen & Steers, Inc. (NYSE:CNS) by 7.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,470 shares of the asset manager’s stock after selling 3,829 shares during the period. TIAA CREF Investment Management LLC’s holdings in Cohen & Steers were worth $1,847,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in Cohen & Steers in the 3rd quarter valued at about $108,000. Janus Henderson Group PLC increased its stake in shares of Cohen & Steers by 5.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,438,130 shares of the asset manager’s stock worth $58,402,000 after purchasing an additional 78,322 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Cohen & Steers by 7.8% during the 3rd quarter. Wells Fargo & Company MN now owns 119,087 shares of the asset manager’s stock worth $4,835,000 after purchasing an additional 8,573 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cohen & Steers by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 838,831 shares of the asset manager’s stock worth $34,065,000 after purchasing an additional 39,903 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Cohen & Steers by 13.7% during the 2nd quarter. BlackRock Inc. now owns 1,599,612 shares of the asset manager’s stock worth $66,721,000 after purchasing an additional 192,512 shares during the last quarter. Hedge funds and other institutional investors own 48.76% of the company’s stock.
Several brokerages have recently issued reports on CNS. ValuEngine lowered shares of Cohen & Steers from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Zacks Investment Research lowered shares of Cohen & Steers from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of Cohen & Steers from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $31.00 to $36.00 in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Cohen & Steers currently has an average rating of “Hold” and an average price target of $41.33.
In other news, insider John Todd Glickson sold 6,315 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $34.34, for a total transaction of $216,857.10. Following the completion of the sale, the insider now owns 56,439 shares in the company, valued at approximately $1,938,115.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 51.20% of the company’s stock.
Shares of CNS stock opened at $37.65 on Wednesday. Cohen & Steers, Inc. has a 12-month low of $32.95 and a 12-month high of $44.41. The company has a market cap of $1.76 billion, a PE ratio of 15.63, a P/E/G ratio of 2.78 and a beta of 1.02.
Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Wednesday, January 23rd. The asset manager reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.03). Cohen & Steers had a return on equity of 37.49% and a net margin of 29.89%. The company had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $93.84 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts expect that Cohen & Steers, Inc. will post 2.25 earnings per share for the current year.
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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.
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