Cohen & Steers (NYSE:CNS) Shares Gap Up to $66.11

Shares of Cohen & Steers, Inc. (NYSE:CNS) gapped up before the market opened on Friday . The stock had previously closed at $66.11, but opened at $73.73. Cohen & Steers shares last traded at $71.48, with a volume of 268,235 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a research report on Friday, April 12th. TheStreet upgraded shares of Cohen & Steers from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th.

Cohen & Steers Price Performance

The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 27.42 and a beta of 1.45. The firm’s 50-day simple moving average is $72.48 and its 200 day simple moving average is $66.46.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). Cohen & Steers had a net margin of 26.27% and a return on equity of 36.96%. The firm had revenue of $122.71 million for the quarter, compared to analyst estimates of $125.01 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis.

Cohen & Steers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were given a dividend of $0.59 per share. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.57. This represents a $2.36 annualized dividend and a yield of 3.28%. The ex-dividend date was Friday, March 1st. Cohen & Steers’s payout ratio is currently 90.77%.

Insiders Place Their Bets

In other Cohen & Steers news, Director Edmond D. Villani sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $72.99, for a total transaction of $291,960.00. Following the sale, the director now owns 33,781 shares of the company’s stock, valued at $2,465,675.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $71.76, for a total value of $498,157.92. Following the sale, the director now owns 24,973 shares of the company’s stock, valued at $1,792,062.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edmond D. Villani sold 4,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 33,781 shares in the company, valued at approximately $2,465,675.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,000 shares of company stock valued at $1,009,713. 47.60% of the stock is currently owned by insiders.

Institutional Trading of Cohen & Steers

Several institutional investors have recently modified their holdings of CNS. MetLife Investment Management LLC lifted its holdings in Cohen & Steers by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 13,334 shares of the asset manager’s stock valued at $861,000 after buying an additional 198 shares during the period. Signaturefd LLC lifted its holdings in Cohen & Steers by 104.9% in the third quarter. Signaturefd LLC now owns 418 shares of the asset manager’s stock valued at $26,000 after buying an additional 214 shares during the period. State of Wyoming lifted its holdings in Cohen & Steers by 42.0% in the second quarter. State of Wyoming now owns 828 shares of the asset manager’s stock valued at $48,000 after buying an additional 245 shares during the period. Advisors Asset Management Inc. lifted its holdings in Cohen & Steers by 11.6% in the first quarter. Advisors Asset Management Inc. now owns 2,757 shares of the asset manager’s stock valued at $176,000 after buying an additional 287 shares during the period. Finally, Citigroup Inc. lifted its holdings in Cohen & Steers by 12.1% in the first quarter. Citigroup Inc. now owns 3,107 shares of the asset manager’s stock valued at $199,000 after buying an additional 335 shares during the period. Institutional investors 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.