Cohen & Steers (NYSE:CNS) EVP Sells $337,158.80 in Stock

Cohen & Steers Inc (NYSE:CNS) EVP Daniel Noonan sold 4,360 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value of $337,158.80. Following the transaction, the executive vice president directly owned 28,682 shares in the company, valued at $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cohen & Steers Trading Up 0.8%

CNS opened at $74.96 on Friday. Cohen & Steers Inc has a 12 month low of $58.39 and a 12 month high of $78.81. The business’s 50-day moving average price is $70.73 and its 200-day moving average price is $66.68. The company has a market cap of $3.85 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.11 and a beta of 1.25.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). The company had revenue of $144.26 million for the quarter, compared to analysts’ expectations of $140.62 million. Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. Equities research analysts forecast that Cohen & Steers Inc will post 3.38 earnings per share for the current fiscal year.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, May 11th. Cohen & Steers’s dividend payout ratio is presently 88.45%.

Wall Street Analyst Weigh In

CNS has been the topic of several research reports. Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings raised Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Finally, Evercore restated an “outperform” rating and issued a $82.00 target price on shares of Cohen & Steers in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $75.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Navellier & Associates Inc. purchased a new stake in Cohen & Steers in the fourth quarter worth about $3,586,000. Tudor Investment Corp ET AL lifted its holdings in shares of Cohen & Steers by 156.0% during the third quarter. Tudor Investment Corp ET AL now owns 77,292 shares of the asset manager’s stock valued at $5,071,000 after purchasing an additional 47,096 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Cohen & Steers by 40.5% in the 4th quarter. Teacher Retirement System of Texas now owns 99,778 shares of the asset manager’s stock worth $6,264,000 after purchasing an additional 28,740 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Cohen & Steers by 16.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 107,421 shares of the asset manager’s stock worth $7,048,000 after purchasing an additional 15,337 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC grew its stake in shares of Cohen & Steers by 91.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 25,579 shares of the asset manager’s stock worth $1,606,000 after buying an additional 12,247 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

About Cohen & Steers

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).