Cohen & Steers (NYSE:CNS) Stock Price Breaks Below 50-Day Moving Average – Should You Sell?

Cohen & Steers Inc (NYSE:CNS) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $73.01 and traded as low as $72.28. Cohen & Steers shares last traded at $72.7990, with a volume of 218,150 shares.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings downgraded Cohen & Steers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, November 2nd. Evercore reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Cohen & Steers in a research note on Monday, August 10th. Finally, Zacks Research cut Cohen & Steers from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.00.

Cohen & Steers Stock Performance

The company has a fifty day simple moving average of $72.73 and a two-hundred day simple moving average of $72.30. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 3.59 and a beta of 1.19.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Thursday, October 15th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $156.41 million for the quarter, compared to analysts’ expectations of $155.12 million. Cohen & Steers had a return on equity of 26.90% and a net margin of 28.16%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, analysts expect that Cohen & Steers Inc will post 3.49 EPS for the current year.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be given a dividend of $0.67 per share. The ex-dividend date is Monday, November 9th. This represents a $2.68 annualized dividend and a yield of 3.8%. Cohen & Steers’s dividend payout ratio is 82.21%.

Institutional Trading of Cohen & Steers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in Cohen & Steers by 16.0% in the third quarter. Fifth Third Bancorp now owns 1,252 shares of the asset manager’s stock valued at $92,000 after buying an additional 173 shares during the period. EverSource Wealth Advisors LLC grew its stake in Cohen & Steers by 88.9% during the first quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager’s stock worth $38,000 after buying an additional 287 shares during the period. Sanctuary Advisors LLC increased its position in shares of Cohen & Steers by 1.3% in the first quarter. Sanctuary Advisors LLC now owns 24,423 shares of the asset manager’s stock worth $1,528,000 after acquiring an additional 315 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Cohen & Steers by 6.5% in the first quarter. Bessemer Group Inc. now owns 5,282 shares of the asset manager’s stock worth $330,000 after acquiring an additional 324 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Cohen & Steers by 4.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,695 shares of the asset manager’s stock worth $586,000 after acquiring an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

About Cohen & Steers

Cohen & Steers, Inc. is a global investment manager specializing in real assets and alternative income. The company manages investment strategies focused on publicly traded real estate securities, infrastructure, natural resources and preferred securities, along with related multi-asset strategies. Founded in 1986 by Martin Cohen and Robert Steers, the firm has built its business around specialized investment management. Its offerings include mutual funds, exchange-traded funds, closed-end funds and separately managed accounts for individual and institutional investors.