Cohen & Steers (NYSE:CNS) Sets New 52-Week High – Here’s What Happened

by · The Markets Daily

Cohen & Steers, Inc. (NYSE:CNS – Get Free Report)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $97.93 and last traded at $97.20, with a volume of 16101 shares traded. The stock had previously closed at $96.53.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group reduced their price objective on Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Evercore ISI upped their price target on Cohen & Steers from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th.

Check Out Our Latest Stock Analysis on CNS

Cohen & Steers Price Performance

The stock’s 50-day simple moving average is $89.67 and its two-hundred day simple moving average is $79.11. The firm has a market capitalization of $4.96 billion, a P/E ratio of 37.55 and a beta of 1.54.

Cohen & Steers (NYSE:CNS – Get Free Report) last issued its earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share for the quarter. The company had revenue of $121.70 million during the quarter, compared to the consensus estimate of $121.48 million. Cohen & Steers had a net margin of 26.21% and a return on equity of 34.08%. Cohen & Steers’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS.

Cohen & Steers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th were paid a $0.59 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.36 annualized dividend and a yield of 2.40%. Cohen & Steers’s payout ratio is 91.83%.

Insider Transactions at Cohen & Steers

In related news, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $86.45, for a total transaction of $95,095.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,091 shares of the company’s stock, valued at approximately $1,736,866.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Elena Dulik sold 1,100 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $86.45, for a total transaction of $95,095.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,091 shares of the company’s stock, valued at approximately $1,736,866.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard P. Simon sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $80.61, for a total value of $564,270.00. Following the transaction, the director now owns 15,660 shares of the company’s stock, valued at $1,262,352.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,600 shares of company stock valued at $1,710,365. 47.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cohen & Steers

A number of hedge funds have recently bought and sold shares of CNS. GAMMA Investing LLC increased its holdings in shares of Cohen & Steers by 115.1% in the 2nd quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock worth $27,000 after buying an additional 198 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cohen & Steers in the 2nd quarter worth approximately $161,000. Central Pacific Bank Trust Division bought a new position in shares of Cohen & Steers during the 1st quarter valued at approximately $224,000. AQR Capital Management LLC raised its holdings in Cohen & Steers by 5.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,274 shares of the asset manager’s stock valued at $238,000 after buying an additional 172 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Cohen & Steers by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 3,498 shares of the asset manager’s stock valued at $269,000 after buying an additional 509 shares during the period. Hedge funds and other institutional investors own 51.47% of the company’s stock.

About Cohen & Steers

(Get Free Report)

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.

See Also