UBS Group Lowers Cohen & Steers (NYSE:CNS) Price Target to $67.00

Cohen & Steers (NYSE:CNS) had its price target trimmed by UBS Group from $69.00 to $67.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a sell rating on the asset manager’s stock.

Separately, TheStreet raised shares of Cohen & Steers from a c+ rating to a b- rating in a research report on Tuesday, December 26th.

Cohen & Steers Trading Down 2.1 %

CNS stock opened at $68.49 on Friday. Cohen & Steers has a one year low of $50.05 and a one year high of $78.58. The firm has a market capitalization of $3.39 billion, a PE ratio of 26.34 and a beta of 1.45. The firm has a 50-day moving average of $72.60 and a two-hundred day moving average of $66.43.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Wednesday, January 24th. The asset manager reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The company had revenue of $119.19 million during the quarter, compared to analyst estimates of $122.80 million. Cohen & Steers had a net margin of 26.36% and a return on equity of 38.52%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 earnings per share.

Cohen & Steers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were issued a $0.59 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.36 dividend on an annualized basis and a yield of 3.45%. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.57. Cohen & Steers’s dividend payout ratio is currently 90.77%.

Insider Buying and Selling

In related news, Director Richard P. Simon sold 3,058 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $71.81, for a total value of $219,594.98. Following the transaction, the director now owns 21,915 shares in the company, valued at $1,573,716.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cohen & Steers news, Director Edmond D. Villani sold 4,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total transaction of $291,960.00. Following the transaction, the director now owns 33,781 shares in the company, valued at $2,465,675.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard P. Simon sold 3,058 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the transaction, the director now owns 21,915 shares in the company, valued at approximately $1,573,716.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,000 shares of company stock worth $1,009,713. Insiders own 47.04% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its stake in shares of Cohen & Steers by 104.9% in the third quarter. Signaturefd LLC now owns 418 shares of the asset manager’s stock worth $26,000 after acquiring an additional 214 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Cohen & Steers in the fourth quarter worth $28,000. SRS Capital Advisors Inc. grew its stake in shares of Cohen & Steers by 294.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 548 shares of the asset manager’s stock worth $41,000 after acquiring an additional 409 shares during the last quarter. State of Wyoming grew its stake in shares of Cohen & Steers by 42.0% in the second quarter. State of Wyoming now owns 828 shares of the asset manager’s stock worth $48,000 after acquiring an additional 245 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of Cohen & Steers by 130.4% in the first quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock worth $67,000 after acquiring an additional 446 shares during the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

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.