Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Cohen & Steers, Inc. (NYSE:CNS) in a research note issued to investors on Friday morning. Keefe, Bruyette & Woods currently has a $45.00 price objective on the asset manager’s stock.
Several other research firms have also recently weighed in on CNS. Bank of America Corporation increased their price target on Cohen & Steers from $35.00 to $38.00 and gave the company an underperform rating in a report on Friday. Credit Suisse Group raised their target price on Cohen & Steers from $41.00 to $43.00 and gave the stock a neutral rating in a report on Friday. BidaskClub cut Cohen & Steers from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised Cohen & Steers from a hold rating to a buy rating and set a $45.00 target price on the stock in a report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $43.60.
Cohen & Steers (CNS) traded up 0.11% during mid-day trading on Friday, reaching $43.98. The company’s stock had a trading volume of 81,230 shares. The company has a 50-day moving average price of $39.63 and a 200-day moving average price of $39.95. The firm has a market cap of $2.04 billion, a PE ratio of 21.36 and a beta of 1.61. Cohen & Steers has a 12-month low of $33.16 and a 12-month high of $45.50.
Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $96.40 million for the quarter, compared to the consensus estimate of $95.76 million. Cohen & Steers’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, equities research analysts expect that Cohen & Steers will post $2.03 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, September 1st were paid a $0.28 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.55%. Cohen & Steers’s payout ratio is presently 53.85%.
In other Cohen & Steers news, insider John Todd Glickson sold 6,700 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $39.72, for a total value of $266,124.00. Following the completion of the sale, the insider now owns 36,738 shares in the company, valued at approximately $1,459,233.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 52.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of CNS. Janus Henderson Group PLC purchased a new stake in Cohen & Steers in the 2nd quarter worth $47,933,000. FMR LLC purchased a new stake in Cohen & Steers in the 2nd quarter worth $4,354,000. Global Thematic Partners LLC increased its stake in Cohen & Steers by 17.3% in the 2nd quarter. Global Thematic Partners LLC now owns 637,519 shares of the asset manager’s stock worth $25,845,000 after buying an additional 93,983 shares in the last quarter. Vanguard Group Inc. increased its stake in Cohen & Steers by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 1,699,085 shares of the asset manager’s stock worth $67,912,000 after buying an additional 83,294 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Cohen & Steers by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,425 shares of the asset manager’s stock worth $25,963,000 after buying an additional 75,497 shares in the last quarter. Institutional investors and hedge funds own 45.36% of the company’s stock.
About Cohen & Steers
Cohen & Steers, Inc (CNS) is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors.
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