Raymond James Financial Inc. Makes New $44.74 Million Investment in Cohen & Steers, Inc. (NYSE:CNS)

Raymond James Financial Inc. bought a new stake in shares of Cohen & Steers, Inc. (NYSE:CNS) in the 4th quarter, Holdings Channel reports. The institutional investor bought 484,476 shares of the asset manager’s stock, valued at approximately $44,737,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cohen & Steers by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,319,673 shares of the asset manager’s stock worth $306,539,000 after purchasing an additional 22,012 shares during the period. State Street Corp boosted its holdings in Cohen & Steers by 0.8% during the third quarter. State Street Corp now owns 1,098,165 shares of the asset manager’s stock worth $105,369,000 after buying an additional 8,774 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of Cohen & Steers by 0.5% during the 4th quarter. Copeland Capital Management LLC now owns 1,096,400 shares of the asset manager’s stock worth $101,242,000 after buying an additional 5,303 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Cohen & Steers by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,004,433 shares of the asset manager’s stock valued at $92,749,000 after acquiring an additional 52,846 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Cohen & Steers by 5.8% in the 4th quarter. Invesco Ltd. now owns 883,805 shares of the asset manager’s stock valued at $81,611,000 after acquiring an additional 48,683 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore ISI lowered their target price on shares of Cohen & Steers from $94.00 to $78.00 and set an “outperform” rating for the company in a research note on Friday.

Cohen & Steers Trading Up 1.3 %

CNS stock opened at $74.55 on Tuesday. Cohen & Steers, Inc. has a 1-year low of $64.13 and a 1-year high of $110.67. The firm has a market cap of $3.80 billion, a PE ratio of 25.10 and a beta of 1.46. The business’s 50-day moving average price is $81.40 and its two-hundred day moving average price is $90.91.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Wednesday, January 22nd. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.02). Cohen & Steers had a net margin of 29.24% and a return on equity of 33.13%.

Cohen & Steers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, March 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Monday, March 3rd. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.59. Cohen & Steers’s dividend payout ratio is 83.50%.

About Cohen & Steers

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.