Charles Schwab Investment Management Inc. Acquires 52,103 Shares of Cohen & Steers, Inc. (NYSE:CNS)

Charles Schwab Investment Management Inc. grew its stake in shares of Cohen & Steers, Inc. (NYSE:CNS) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 951,587 shares of the asset manager’s stock after buying an additional 52,103 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.88% of Cohen & Steers worth $91,305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in Cohen & Steers by 3,638.5% during the 2nd quarter. Principal Financial Group Inc. now owns 130,774 shares of the asset manager’s stock worth $9,489,000 after acquiring an additional 127,276 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Cohen & Steers in the first quarter worth approximately $5,193,000. Bank of New York Mellon Corp increased its stake in shares of Cohen & Steers by 20.9% in the second quarter. Bank of New York Mellon Corp now owns 646,835 shares of the asset manager’s stock worth $46,934,000 after buying an additional 111,649 shares during the period. Hsbc Holdings PLC raised its holdings in Cohen & Steers by 91.1% during the 2nd quarter. Hsbc Holdings PLC now owns 132,193 shares of the asset manager’s stock valued at $9,590,000 after buying an additional 63,019 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in Cohen & Steers during the 2nd quarter valued at $4,199,000. 51.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CNS has been the topic of a number of analyst reports. UBS Group upgraded shares of Cohen & Steers from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $63.00 to $102.00 in a research report on Thursday, October 17th. Evercore ISI boosted their price target on Cohen & Steers from $110.00 to $111.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

Cohen & Steers Stock Up 1.0 %

Shares of CNS stock opened at $106.60 on Wednesday. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 39.78 and a beta of 1.53. The stock has a fifty day moving average of $98.70 and a 200 day moving average of $85.48. Cohen & Steers, Inc. has a 52 week low of $56.23 and a 52 week high of $110.67.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, October 16th. The asset manager reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Cohen & Steers had a net margin of 27.23% and a return on equity of 32.75%. The firm had revenue of $133.20 million during the quarter, compared to analysts’ expectations of $124.18 million. During the same period last year, the company posted $0.70 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, November 18th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.21%. Cohen & Steers’s dividend payout ratio (DPR) is 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.