Cohen & Steers (NYSE:CNS) Shares Break Above 200-Day Moving Average – Here’s Why
by Mitch Edgeman · The Markets DailyCohen & Steers Inc (NYSE:CNS – Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $74.12 and traded as high as $74.15. Cohen & Steers shares last traded at $72.9480, with a volume of 172,671 shares traded.
Wall Street Analyst Weigh In
CNS has been the subject of a number of recent research reports. Weiss Ratings downgraded Cohen & Steers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Evercore reissued an “outperform” rating and set a $88.00 price target on shares of Cohen & Steers in a research report on Monday, August 10th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.00.
Read Our Latest Research Report on CNS
Cohen & Steers Trading Down 0.2%
The stock’s fifty day moving average price is $79.25 and its 200-day moving average price is $74.12. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 1.78 and a beta of 1.22.
Cohen & Steers (NYSE:CNS – Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $151.84 million for the quarter, compared to analysts’ expectations of $149.45 million. Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. Analysts predict that Cohen & Steers Inc will post 3.53 earnings per share for the current year.
Cohen & Steers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were given a $0.67 dividend. The ex-dividend date was Monday, August 10th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Cohen & Steers’s payout ratio is currently 82.21%.
Insider Activity at Cohen & Steers
In other news, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $83.16, for a total value of $91,476.00. Following the transaction, the chief accounting officer owned 22,146 shares of the company’s stock, valued at $1,841,661.36. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 45.40% of the stock is currently owned by company insiders.
Institutional Trading of Cohen & Steers
Several institutional investors and hedge funds have recently bought and sold shares of CNS. BlackRock Inc. acquired a new position in shares of Cohen & Steers in the 2nd quarter worth approximately $426,000. The Manufacturers Life Insurance Company acquired a new stake in Cohen & Steers in the 2nd quarter valued at approximately $1,137,000. Legal & General Group Plc purchased a new stake in Cohen & Steers in the second quarter valued at approximately $5,612,000. Gabelli Funds LLC lifted its stake in Cohen & Steers by 38.0% during the first quarter. Gabelli Funds LLC now owns 190,395 shares of the asset manager’s stock worth $11,909,000 after purchasing an additional 52,400 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new position in shares of Cohen & Steers during the second quarter worth $1,498,000. 51.47% of the stock is currently owned by hedge funds and other institutional investors.
Cohen & Steers Company Profile
Cohen & Steers, Inc is a global investment management company specializing in listed real assets and alternative income. The firm manages portfolios focused on areas such as real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented investments.
Its investment solutions are offered through mutual funds, exchange-traded funds, closed-end funds, institutional accounts and separately managed accounts. Cohen & Steers serves a range of clients, including institutional investors, financial advisers and individual investors, with strategies covering markets in the United States and internationally.
Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and maintains an international presence to support its global investment activities.