UBS Group Trims Cohen & Steers (NYSE:CNS) Target Price to $63.00

Cohen & Steers (NYSE:CNS) had its price target cut by UBS Group from $65.00 to $63.00 in a report published on Wednesday, Benzinga reports. They currently have a sell rating on the asset manager’s stock.

Cohen & Steers Trading Up 0.8 %

Cohen & Steers stock opened at $75.91 on Wednesday. The company has a fifty day simple moving average of $71.47 and a 200-day simple moving average of $71.51. The stock has a market cap of $3.84 billion, a P/E ratio of 29.54 and a beta of 1.53. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $78.58.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 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 $122.71 million for the quarter, compared to analysts’ expectations of $125.01 million. During the same period last year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, May 10th. This represents a $2.36 dividend on an annualized basis and a yield of 3.11%. Cohen & Steers’s payout ratio is currently 91.83%.

Insider Activity

In related news, EVP Jon Cheigh sold 7,159 shares of Cohen & Steers stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $72.57, for a total transaction of $519,528.63. Following the sale, the executive vice president now directly owns 167,018 shares in the company, valued at approximately $12,120,496.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNS. Sei Investments Co. increased its holdings in shares of Cohen & Steers by 6.7% in the 3rd quarter. Sei Investments Co. now owns 205,727 shares of the asset manager’s stock valued at $12,897,000 after acquiring an additional 12,854 shares during the period. Raymond James Trust N.A. purchased a new position in Cohen & Steers during the 4th quarter worth $258,000. Naples Global Advisors LLC acquired a new position in Cohen & Steers in the fourth quarter valued at $215,000. SG Americas Securities LLC purchased a new stake in shares of Cohen & Steers in the fourth quarter valued at about $142,000. Finally, Raymond James & Associates boosted its stake in shares of 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 buying an additional 56,153 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

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.