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

by · The Markets Daily

Cohen & Steers Inc (NYSE:CNS – Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $58.39 and last traded at $59.45, with a volume of 71813 shares. The stock had previously closed at $60.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNS shares. Evercore ISI boosted their target price on shares of Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, October 8th. Finally, Bank of America boosted their price objective on Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.50.

Read Our Latest Report on Cohen & Steers

Cohen & Steers Stock Performance

The company’s 50 day simple moving average is $65.68 and its 200-day simple moving average is $71.15. The firm has a market capitalization of $3.07 billion, a PE ratio of 18.85, a PEG ratio of 1.56 and a beta of 1.29.

Cohen & Steers (NYSE:CNS – Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The asset manager reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. Cohen & Steers had a net margin of 29.73% and a return on equity of 29.40%. The firm had revenue of $140.94 million for the quarter, compared to analysts’ expectations of $138.84 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, November 10th. Cohen & Steers’s dividend payout ratio is currently 77.74%.

Insider Buying and Selling at Cohen & Steers

In other Cohen & Steers news, Director Martin Cohen purchased 12,708 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was purchased at an average price of $60.83 per share, for a total transaction of $773,027.64. Following the transaction, the director owned 949,205 shares in the company, valued at $57,740,140.15. The trade was a 1.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 100,000 shares of company stock valued at $5,982,368. Company insiders own 45.60% of the company’s stock.

Institutional Investors Weigh In On Cohen & Steers

A number of institutional investors and hedge funds have recently bought and sold shares of CNS. Caitong International Asset Management Co. Ltd bought a new stake in Cohen & Steers during the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after acquiring an additional 297 shares during the last quarter. Covestor Ltd grew its position in Cohen & Steers by 17.3% in the third quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock worth $126,000 after acquiring an additional 284 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Cohen & Steers in the first quarter worth $172,000. Finally, Tower Research Capital LLC TRC increased its stake in Cohen & Steers by 376.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the asset manager’s stock valued at $194,000 after acquiring an additional 2,035 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Company Profile

(Get Free Report)

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.

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