Cohen & Steers (NYSE:CNS) Hits New 12-Month High – What’s Next?

Cohen & Steers, Inc. (NYSE:CNS)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $97.93 and last traded at $97.20, with a volume of 16101 shares. The stock had previously closed at $96.53.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNS shares. UBS Group raised Cohen & Steers from a “sell” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $102.00 in a research note on Thursday. Evercore ISI boosted their target price on shares of Cohen & Steers from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th.

Cohen & Steers Stock Performance

The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 40.99 and a beta of 1.54. The business’s 50-day moving average is $90.81 and its 200-day moving average is $79.59.

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

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Monday, August 12th were paid a $0.59 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 2.24%. Cohen & Steers’s dividend payout ratio (DPR) is currently 91.83%.

Insider Buying and Selling

In other news, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $86.45, for a total value of $95,095.00. Following the transaction, the chief accounting officer now owns 20,091 shares of the company’s stock, valued at approximately $1,736,866.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Elena Dulik sold 1,100 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $86.45, for a total value of $95,095.00. Following the transaction, the chief accounting officer now owns 20,091 shares of the company’s stock, valued at $1,736,866.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jon Cheigh sold 12,500 shares of Cohen & Steers stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the sale, the executive vice president now directly owns 155,311 shares of the company’s stock, valued at approximately $13,058,548.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,600 shares of company stock worth $1,710,365 over the last three months. 47.60% of the stock is currently owned by company insiders.

Institutional Trading of Cohen & Steers

A number of hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its stake in 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 purchasing an additional 172 shares in the last quarter. Inspire Investing LLC increased its position in shares of Cohen & Steers by 4.0% in the 2nd quarter. Inspire Investing LLC now owns 4,864 shares of the asset manager’s stock valued at $353,000 after buying an additional 185 shares in the last quarter. GAMMA Investing LLC raised its stake in Cohen & Steers by 115.1% during the 2nd quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock worth $27,000 after buying an additional 198 shares during the period. Arizona State Retirement System lifted its holdings in Cohen & Steers by 2.7% during the second quarter. Arizona State Retirement System now owns 7,625 shares of the asset manager’s stock worth $553,000 after acquiring an additional 198 shares in the last quarter. Finally, Inspire Advisors LLC grew 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 period. 51.47% of the stock is currently owned by institutional investors and hedge funds.

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.