Cohen & Steers (NYSE:CNS) Sets New 52-Week High at $87.77

Shares of Cohen & Steers, Inc. (NYSE:CNS) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $87.77 and last traded at $87.76, with a volume of 67348 shares trading hands. The stock had previously closed at $84.39.

Analysts Set New Price Targets

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

Cohen & Steers Price Performance

The stock has a market cap of $4.34 billion, a PE ratio of 33.40 and a beta of 1.53. The stock has a 50-day simple moving average of $73.89 and a 200-day simple moving average of $72.36.

Cohen & Steers (NYSE:CNS) last announced 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 net margin of 26.27% and a return on equity of 36.67%. The firm had revenue of $121.70 million for the quarter, compared to analysts’ expectations of $121.48 million. During the same period in the previous year, the company posted $0.70 earnings per share. Cohen & Steers’s revenue was up .9% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Monday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, May 10th. Cohen & Steers’s dividend payout ratio (DPR) is presently 91.83%.

Insider Activity

In related news, EVP Jon Cheigh sold 12,500 shares of Cohen & Steers stock in a transaction 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 of the company’s stock, valued at approximately $13,058,548.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cohen & Steers news, EVP Jon Cheigh sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total transaction of $1,051,000.00. Following the completion of the sale, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard P. Simon sold 7,000 shares of Cohen & Steers 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. The disclosure for this sale can be found here. Insiders have sold 27,759 shares of company stock worth $2,229,894 over the last 90 days. Company insiders own 47.60% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Cohen & Steers in the fourth quarter worth $26,957,000. Moody Aldrich Partners LLC boosted its holdings in shares of Cohen & Steers by 39.5% in the 4th quarter. Moody Aldrich Partners LLC now owns 135,849 shares of the asset manager’s stock valued at $10,288,000 after buying an additional 38,458 shares during the period. Evoke Wealth LLC bought a new stake in shares of Cohen & Steers during the 4th quarter valued at about $3,321,000. Silvercrest Asset Management Group LLC acquired a new stake in Cohen & Steers during the first quarter worth about $5,193,000. Finally, Sei Investments Co. raised 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 acquiring an additional 38,620 shares during the period. 51.47% of the stock is currently owned by institutional investors and hedge funds.

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.