Cohen & Steers (NYSE:CNS) Upgraded at UBS Group

UBS Group upgraded shares of Cohen & Steers (NYSE:CNS) from a sell rating to a neutral rating in a research note released on Thursday morning, MarketBeat.com reports. The brokerage currently has $102.00 price objective on the asset manager’s stock, up from their prior price objective of $63.00.

Separately, Evercore ISI upped their price target on 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 Trading Up 1.1 %

Shares of CNS stock opened at $106.48 on Thursday. The business’s fifty day simple moving average is $91.27 and its 200-day simple moving average is $79.86. The company has a market cap of $5.38 billion, a PE ratio of 41.43 and a beta of 1.54. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $110.67.

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

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, August 12th. Cohen & Steers’s payout ratio is 91.83%.

Insider Activity at Cohen & Steers

In related news, CAO Elena Dulik sold 1,100 shares of the company’s 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Elena Dulik sold 1,100 shares of the company’s 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jon Cheigh sold 12,500 shares of the stock in a transaction dated 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 in the company, valued at $13,058,548.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 47.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Cohen & Steers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OLD National Bancorp IN purchased a new stake in shares of Cohen & Steers during the 3rd quarter worth about $206,000. nVerses Capital LLC purchased a new stake in shares of Cohen & Steers during the 3rd quarter worth about $125,000. Creative Planning boosted its stake in shares of Cohen & Steers by 54.1% during the 3rd quarter. Creative Planning now owns 18,396 shares of the asset manager’s stock worth $1,765,000 after acquiring an additional 6,456 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cohen & Steers by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 610 shares of the asset manager’s stock valued at $59,000 after buying an additional 240 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Cohen & Steers by 15.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,051 shares of the asset manager’s stock valued at $581,000 after buying an additional 800 shares in the last quarter. 51.47% of the stock is 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.