Short Interest in Cohen & Steers, Inc. (NYSE:CNS) Declines By 8.3%

Cohen & Steers, Inc. (NYSE:CNS) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,110,000 shares, a decline of 8.3% from the August 31st total of 2,300,000 shares. Approximately 7.8% of the company’s shares are sold short. Based on an average daily trading volume, of 185,800 shares, the days-to-cover ratio is presently 11.4 days.

Insider Activity

In other news, 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 sale, the director now owns 15,660 shares of the company’s stock, valued at approximately $1,262,352.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $95,095.00. Following the sale, the chief accounting officer now owns 20,091 shares of the company’s stock, valued at approximately $1,736,866.95. The transaction was disclosed in a filing with the SEC, which can be accessed 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 sale, the director now directly owns 15,660 shares in the company, valued at approximately $1,262,352.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,600 shares of company stock valued at $1,710,365. 47.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Cohen & Steers during the fourth quarter worth about $26,957,000. Silvercrest Asset Management Group LLC acquired a new position in Cohen & Steers during the first quarter worth about $5,193,000. Sei Investments Co. grew its position in Cohen & Steers by 17.0% during the first quarter. Sei Investments Co. now owns 265,608 shares of the asset manager’s stock worth $20,423,000 after buying an additional 38,620 shares during the period. Harbor Capital Advisors Inc. grew its position in Cohen & Steers by 292.6% during the second quarter. Harbor Capital Advisors Inc. now owns 12,236 shares of the asset manager’s stock worth $888,000 after buying an additional 9,119 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Cohen & Steers during the fourth quarter worth about $1,183,000. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group dropped their target price on shares of Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Evercore ISI boosted their price target on shares of Cohen & Steers from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th.

Cohen & Steers Stock Down 2.6 %

NYSE CNS traded down $2.46 during trading hours on Tuesday, hitting $93.49. 143,739 shares of the stock were exchanged, compared to its average volume of 221,668. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 36.79 and a beta of 1.54. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $97.57. The stock has a 50-day moving average of $87.86 and a 200 day moving average of $77.75.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share (EPS) for the quarter. Cohen & Steers had a net margin of 26.21% and a return on equity of 34.08%. The firm had revenue of $121.70 million during the quarter, compared to analysts’ expectations of $121.48 million. During the same period in the prior year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.36 annualized dividend and a yield of 2.52%. Cohen & Steers’s payout ratio is currently 91.83%.

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.