Cohen & Steers (NYSE:CNS) Sets New 12-Month High – Time to Buy?

Cohen & Steers, Inc. (NYSE:CNS) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $97.93 and last traded at $97.20, with a volume of 16101 shares. The stock had previously closed at $96.53.

Analyst Ratings Changes

A number of research firms have commented on CNS. Evercore ISI upped their price target on Cohen & Steers from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group decreased their target price on Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a report on Wednesday, July 10th.

Cohen & Steers Price Performance

The stock’s 50 day moving average is $89.67 and its 200-day moving average is $79.11. The company 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) last announced its earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share (EPS) for the quarter. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The firm had revenue of $121.70 million during the quarter, compared to analyst estimates of $121.48 million. During the same quarter in the prior year, the company earned $0.70 EPS. The business’s revenue was up .9% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

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

Insider Buying and Selling at Cohen & Steers

In related 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 value of $564,270.00. Following the sale, the director now owns 15,660 shares in the company, valued at $1,262,352.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cohen & Steers news, Director Richard P. Simon sold 7,000 shares of Cohen & Steers stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $80.61, for a total value 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 approximately $1,262,352.60. The trade was 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, EVP Jon Cheigh sold 12,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $84.08, for a total transaction of $1,051,000.00. Following the sale, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,600 shares of company stock valued at $1,710,365. Corporate insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CNS. Vanguard Group Inc. lifted its stake in Cohen & Steers by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,666,537 shares of the asset manager’s stock valued at $201,937,000 after acquiring an additional 31,525 shares during the period. Quadrature Capital Ltd purchased a new stake in Cohen & Steers in the fourth quarter worth approximately $1,183,000. Congress Asset Management Co. MA grew its position in Cohen & Steers by 9.7% in the 1st quarter. Congress Asset Management Co. MA now owns 427,335 shares of the asset manager’s stock worth $32,858,000 after purchasing an additional 37,935 shares during the period. Congress Wealth Management LLC DE raised its stake in Cohen & Steers by 14.0% during the 1st quarter. Congress Wealth Management LLC DE now owns 74,358 shares of the asset manager’s stock valued at $5,717,000 after buying an additional 9,104 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Cohen & Steers by 29.1% during the 1st quarter. Wasatch Advisors LP now owns 3,124,662 shares of the asset manager’s stock valued at $240,255,000 after buying an additional 703,999 shares during the period. 51.47% of the stock is owned by 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.