Cohen & Steers (NYSE:CNS) Given New $111.00 Price Target at Evercore ISI

Cohen & Steers (NYSE:CNS) had its target price raised by Evercore ISI from $110.00 to $111.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Separately, UBS Group raised Cohen & Steers from a “sell” rating to a “neutral” rating and raised their price target for the stock from $63.00 to $102.00 in a research note on Thursday, October 17th.

Cohen & Steers Stock Up 1.6 %

NYSE CNS traded up $1.68 during trading on Thursday, hitting $103.88. 197,619 shares of the stock traded hands, compared to its average volume of 226,957. Cohen & Steers has a 12-month low of $51.61 and a 12-month high of $110.67. The firm has a 50-day simple moving average of $95.63 and a 200-day simple moving average of $82.68. The company has a market capitalization of $5.25 billion, a P/E ratio of 38.82 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $133.20 million for the quarter, compared to the consensus estimate of $124.18 million. Cohen & Steers had a net margin of 27.23% and a return on equity of 34.43%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, November 18th. Cohen & Steers’s payout ratio is 88.06%.

Institutional Trading of Cohen & Steers

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of Cohen & Steers by 19.8% during the third quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 107 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Cohen & Steers by 16.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after acquiring an additional 119 shares during the period. Mendel Capital Management LLC boosted its position in Cohen & Steers by 3.3% during the third quarter. Mendel Capital Management LLC now owns 4,495 shares of the asset manager’s stock valued at $431,000 after purchasing an additional 145 shares in the last quarter. AQR Capital Management LLC grew its stake in Cohen & Steers by 5.5% in the second quarter. AQR Capital Management LLC now owns 3,274 shares of the asset manager’s stock valued at $238,000 after purchasing an additional 172 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in Cohen & Steers by 4.0% in the second quarter. Inspire Investing LLC now owns 4,864 shares of the asset manager’s stock worth $353,000 after purchasing an additional 185 shares in the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

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.