AlphaQuest LLC Cuts Position in Cohen & Steers Inc $CNS

AlphaQuest LLC decreased its position in shares of Cohen & Steers Inc (NYSE:CNS) by 93.3% during the third quarter, HoldingsChannel reports. The firm owned 1,960 shares of the asset manager’s stock after selling 27,286 shares during the period. AlphaQuest LLC’s holdings in Cohen & Steers were worth $129,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cohen & Steers during the 2nd quarter valued at about $27,880,000. Wasatch Advisors LP boosted its stake in Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after buying an additional 323,759 shares in the last quarter. Bourgeon Capital Management LLC bought a new position in Cohen & Steers during the third quarter valued at approximately $9,554,000. Balyasny Asset Management L.P. raised its stake in shares of Cohen & Steers by 107.4% during the second quarter. Balyasny Asset Management L.P. now owns 190,077 shares of the asset manager’s stock worth $14,322,000 after acquiring an additional 98,431 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Cohen & Steers by 485.1% during the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock worth $7,477,000 after acquiring an additional 77,251 shares in the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Cohen & Steers Trading Up 2.0%

CNS opened at $66.11 on Friday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.93 and a beta of 1.27. The stock has a fifty day simple moving average of $64.69 and a two-hundred day simple moving average of $67.56. Cohen & Steers Inc has a 12-month low of $58.39 and a 12-month high of $88.76.

Cohen & Steers (NYSE:CNS) last released its earnings results on Thursday, January 22nd. The asset manager reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Cohen & Steers had a net margin of 27.55% and a return on equity of 29.37%. The firm had revenue of $143.79 million for the quarter, compared to the consensus estimate of $144.30 million. During the same period in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 2.9% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Evercore upped their price target on shares of Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $72.50.

Insider Activity

In related news, EVP Francis C. Poli sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $65.73, for a total value of $657,300.00. Following the transaction, the executive vice president owned 55,675 shares in the company, valued at $3,659,517.75. The trade was a 15.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Cohen purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average price of $59.69 per share, for a total transaction of $2,984,500.00. Following the acquisition, the director owned 899,205 shares of the company’s stock, valued at approximately $53,673,546.45. The trade was a 5.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 100,000 shares of company stock valued at $5,982,368. 47.60% of the stock is owned by insiders.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).