UBS Group Upgrades Cohen & Steers (NYSE:CNS) to Neutral

Cohen & Steers (NYSE:CNS) was upgraded by analysts at UBS Group from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a $102.00 target price on the asset manager’s stock, up from their prior target price of $63.00. UBS Group’s price objective would suggest a potential downside of 4.27% from the company’s previous close.

Separately, Evercore ISI raised their target price on shares of Cohen & Steers from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, October 4th.

Cohen & Steers Price Performance

Shares of NYSE CNS opened at $106.55 on Thursday. Cohen & Steers has a fifty-two week low of $50.05 and a fifty-two week high of $110.67. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 41.46 and a beta of 1.54. The business has a 50-day moving average of $91.27 and a 200-day moving average of $79.81.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Cohen & Steers had a net margin of 26.21% and a return on equity of 34.08%. The business had revenue of $133.20 million during the quarter, compared to the consensus estimate of $124.18 million. During the same period last year, the business posted $0.70 EPS. Cohen & Steers’s revenue was up 7.7% on a year-over-year basis.

Insiders Place Their Bets

In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Elena Dulik sold 1,100 shares of Cohen & Steers stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $86.45, for a total value 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 approximately $1,736,866.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard P. Simon sold 7,000 shares of Cohen & Steers stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $80.61, for a total transaction of $564,270.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 20,600 shares of company stock worth $1,710,365 over the last three months. Insiders own 47.60% of the company’s stock.

Institutional Investors Weigh In On Cohen & Steers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of 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 buying an additional 172 shares in the last quarter. Inspire Investing LLC increased its stake in Cohen & Steers by 4.0% in the second quarter. Inspire Investing LLC now owns 4,864 shares of the asset manager’s stock valued at $353,000 after acquiring an additional 185 shares during the last quarter. GAMMA Investing LLC increased its stake in Cohen & Steers by 115.1% in the second quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 198 shares during the last quarter. Arizona State Retirement System increased its stake in Cohen & Steers by 2.7% in the second quarter. Arizona State Retirement System now owns 7,625 shares of the asset manager’s stock valued at $553,000 after acquiring an additional 198 shares during the last quarter. Finally, Inspire Advisors LLC increased its stake in Cohen & Steers by 1.9% in the second quarter. Inspire Advisors LLC now owns 11,337 shares of the asset manager’s stock valued at $823,000 after acquiring an additional 210 shares during the last quarter. 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.