Cohen & Steers (NYSE:CNS) Reaches New 1-Year High at $97.57

Cohen & Steers, Inc. (NYSE:CNS)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $97.57 and last traded at $96.57, with a volume of 2889 shares changing hands. The stock had previously closed at $95.37.

Analyst Upgrades and Downgrades

CNS has been the subject of a number of analyst reports. UBS Group decreased their price target on Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Evercore ISI boosted their price target on Cohen & Steers from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, September 5th.

Cohen & Steers Stock Down 0.4 %

The firm has a market capitalization of $4.81 billion, a PE ratio of 37.03 and a beta of 1.54. The stock has a 50-day moving average price of $85.65 and a 200 day moving average price of $76.63.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Wednesday, July 17th. The asset manager reported $0.68 EPS for the quarter. The business had revenue of $121.70 million during the quarter, compared to analysts’ expectations of $121.48 million. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The business’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Monday, August 12th. Cohen & Steers’s payout ratio is 91.83%.

Insider Buying and Selling

In related news, CAO Elena Dulik sold 1,100 shares of the business’s 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 sale, the chief accounting officer now directly owns 20,091 shares in the company, valued at $1,736,866.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Elena Dulik sold 1,100 shares of the business’s 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 sale, the chief accounting officer now directly owns 20,091 shares in the company, valued at $1,736,866.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard P. Simon sold 7,000 shares of the business’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 of the company’s stock, valued at $1,262,352.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,600 shares of company stock worth $1,710,365. 47.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cohen & Steers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Cohen & Steers during the fourth quarter worth $26,957,000. Silvercrest Asset Management Group LLC acquired a new position in Cohen & Steers during the first quarter worth $5,193,000. Evoke Wealth LLC acquired a new position in Cohen & Steers during the fourth quarter worth $3,321,000. Sei Investments Co. boosted its stake in Cohen & Steers by 17.0% during the first quarter. Sei Investments Co. now owns 265,608 shares of the asset manager’s stock worth $20,423,000 after buying an additional 38,620 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Cohen & Steers by 292.6% during the second quarter. Harbor Capital Advisors Inc. now owns 12,236 shares of the asset manager’s stock worth $888,000 after buying an additional 9,119 shares during the last quarter. Institutional investors and hedge funds 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.