Cohen & Steers (NYSE:CNS) Sees Strong Trading Volume

Cohen & Steers, Inc. (NYSE:CNS) shares saw an uptick in trading volume on Monday . 342,829 shares changed hands during trading, an increase of 79% from the previous session’s volume of 191,943 shares.The stock last traded at $69.43 and had previously closed at $72.39.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group decreased their target price on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research report on Friday, April 12th. TheStreet upgraded Cohen & Steers from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th.

Cohen & Steers Stock Performance

The company has a 50 day moving average of $72.56 and a 200 day moving average of $66.78. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 27.86 and a beta of 1.45.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $122.71 million for the quarter, compared to analysts’ expectations of $125.01 million. Cohen & Steers had a net margin of 26.27% and a return on equity of 36.96%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS.

Cohen & Steers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were paid a dividend of $0.59 per share. The ex-dividend date was Friday, March 1st. This represents a $2.36 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.57. Cohen & Steers’s payout ratio is 91.83%.

Insider Activity at Cohen & Steers

In other news, Director Richard P. Simon sold 3,058 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the completion of the sale, the director now owns 21,915 shares of the company’s stock, valued at approximately $1,573,716.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Richard P. Simon sold 6,942 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $71.76, for a total transaction of $498,157.92. Following the completion of the transaction, the director now directly owns 24,973 shares in the company, valued at approximately $1,792,062.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard P. Simon sold 3,058 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $71.81, for a total transaction of $219,594.98. Following the completion of the sale, the director now owns 21,915 shares in the company, valued at $1,573,716.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,000 shares of company stock valued at $1,009,713. 47.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cohen & Steers

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP increased its holdings in Cohen & Steers by 54.2% in the 4th quarter. Wasatch Advisors LP now owns 2,420,663 shares of the asset manager’s stock valued at $183,317,000 after purchasing an additional 851,125 shares during the last quarter. Norges Bank acquired a new position in Cohen & Steers during the 4th quarter worth about $26,957,000. Invesco Ltd. grew its position in Cohen & Steers by 421.4% in the 3rd quarter. Invesco Ltd. now owns 233,931 shares of the asset manager’s stock valued at $14,665,000 after acquiring an additional 189,066 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Cohen & Steers by 80.8% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 138,064 shares of the asset manager’s stock worth $8,655,000 after purchasing an additional 61,692 shares during the period. Finally, Raymond James & Associates increased its stake in Cohen & Steers by 38.8% during the fourth quarter. Raymond James & Associates now owns 200,944 shares of the asset manager’s stock worth $15,217,000 after purchasing an additional 56,153 shares during the period. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Company 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.