Cohen & Steers, Inc. (CNS) to Issue Quarterly Dividend of $0.59 on May 23rd

Cohen & Steers, Inc. (NYSE:CNS) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.59 per share by the asset manager on Thursday, May 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, May 10th.

Cohen & Steers has increased its dividend payment by an average of 13.5% annually over the last three years and has raised its dividend every year for the last 15 years. Cohen & Steers has a dividend payout ratio of 74.0% meaning its dividend is sufficiently covered by earnings.

Cohen & Steers Trading Up 1.4 %

NYSE:CNS opened at $70.62 on Friday. The firm has a fifty day simple moving average of $72.36 and a 200-day simple moving average of $67.35. Cohen & Steers has a 12 month low of $50.05 and a 12 month high of $78.58. The company has a market capitalization of $3.50 billion, a P/E ratio of 27.48 and a beta of 1.45.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $125.01 million. During the same period in the prior year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their price objective on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research report on Friday, April 12th.

Insiders Place Their Bets

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 completion of the sale, the director now owns 24,973 shares of the company’s stock, valued at approximately $1,792,062.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Edmond D. Villani sold 4,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,465,675.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $71.76, for a total transaction of $498,157.92. Following the completion of the sale, the director now owns 24,973 shares in the company, valued at $1,792,062.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,000 shares of company stock worth $1,009,713. 47.60% of the stock is owned by corporate insiders.

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.