Cohen & Steers (NYSE:CNS) Given New $111.00 Price Target at Evercore ISI

by · The Markets Daily

Cohen & Steers (NYSE:CNS – Free Report) had its price objective upped by Evercore ISI from $110.00 to $111.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Separately, UBS Group raised Cohen & Steers from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $102.00 in a report on Thursday, October 17th.

View Our Latest Report on Cohen & Steers

Cohen & Steers Stock Up 1.6 %

Shares of CNS stock traded up $1.68 during trading hours on Thursday, hitting $103.88. 197,619 shares of the company’s stock traded hands, compared to its average volume of 226,957. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 38.82 and a beta of 1.53. The stock’s fifty day simple moving average is $95.63 and its two-hundred day simple moving average is $82.68. Cohen & Steers has a 12-month low of $51.61 and a 12-month high of $110.67.

Cohen & Steers (NYSE:CNS – Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Cohen & Steers had a return on equity of 34.43% and a net margin of 27.23%. The firm had revenue of $133.20 million during the quarter, compared to analyst estimates of $124.18 million. During the same quarter in the previous year, the firm earned $0.70 EPS. Cohen & Steers’s quarterly revenue was up 7.7% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.36 dividend on an annualized basis and a yield of 2.27%. Cohen & Steers’s dividend payout ratio is presently 88.06%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Cohen & Steers by 115.1% in the second 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. Ashton Thomas Securities LLC bought a new position in Cohen & Steers in the 3rd quarter worth $31,000. Signaturefd LLC raised its holdings in Cohen & Steers by 19.8% during the third quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 107 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Cohen & Steers by 16.9% in the third quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after acquiring an additional 119 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Cohen & Steers in the third quarter worth about $106,000. 51.47% of the stock is currently owned by institutional investors.

About Cohen & Steers

(Get Free Report)

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.

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