Cohen & Steers (NYSE:CNS) Hits New 52-Week High at $86.33

Cohen & Steers, Inc. (NYSE:CNS) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $86.33 and last traded at $86.03, with a volume of 206633 shares trading hands. The stock had previously closed at $81.00.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their price objective on shares of Cohen & Steers from $65.00 to $63.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th.

Cohen & Steers Price Performance

The company has a fifty day moving average of $72.93 and a two-hundred day moving average of $71.88. The stock has a market capitalization of $4.34 billion, a P/E ratio of 31.52 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Cohen & Steers had a return on equity of 36.67% and a net margin of 26.27%. The business had revenue of $121.70 million during the quarter, compared to the consensus estimate of $121.48 million. During the same period in the previous year, the business earned $0.70 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Monday, May 13th were given a $0.59 dividend. The ex-dividend date was Friday, May 10th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.75%. Cohen & Steers’s payout ratio is currently 91.83%.

Insider Activity

In related news, Director Richard P. Simon sold 7,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $80.61, for a total transaction of $564,270.00. Following the sale, the director now owns 15,660 shares in the company, valued at $1,262,352.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Richard P. Simon sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $80.61, for a total transaction of $564,270.00. Following the completion of the transaction, the director now directly owns 15,660 shares of the company’s stock, valued at $1,262,352.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jon Cheigh sold 7,159 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $72.57, for a total value of $519,528.63. Following the sale, the executive vice president now owns 167,018 shares in the company, valued at $12,120,496.26. The disclosure for this sale can be found here. Company insiders own 47.60% of the company’s stock.

Institutional Investors Weigh In On Cohen & Steers

Hedge funds have recently made changes to their positions in the business. Raymond James Trust N.A. acquired a new stake in Cohen & Steers in the 4th quarter valued at approximately $258,000. SG Americas Securities LLC acquired a new position in shares of Cohen & Steers in the 4th quarter valued at $142,000. Raymond James & Associates raised its holdings in Cohen & Steers by 38.8% during the 4th quarter. Raymond James & Associates now owns 200,944 shares of the asset manager’s stock worth $15,217,000 after buying an additional 56,153 shares during the period. Copeland Capital Management LLC lifted its stake in Cohen & Steers by 2.8% during the fourth quarter. Copeland Capital Management LLC now owns 1,048,411 shares of the asset manager’s stock valued at $79,396,000 after buying an additional 28,709 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Cohen & Steers by 39.1% in the fourth quarter. Venturi Wealth Management LLC now owns 4,662 shares of the asset manager’s stock worth $353,000 after buying an additional 1,311 shares during the period. Institutional investors own 51.47% of the company’s stock.

About Cohen & Steers

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.