Cohen & Steers (NYSE:CNS) Hits New 1-Year Low – Here’s What Happened

Cohen & Steers Inc (NYSE:CNS)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $58.39 and last traded at $59.45, with a volume of 71813 shares changing hands. The stock had previously closed at $60.80.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday, October 8th. Bank of America boosted their price target on Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Finally, Evercore ISI lifted their price objective on Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.50.

Cohen & Steers Trading Up 1.5%

The stock has a market cap of $3.20 billion, a PE ratio of 19.72, a P/E/G ratio of 1.61 and a beta of 1.29. The business has a fifty day simple moving average of $65.57 and a two-hundred day simple moving average of $71.03.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Thursday, October 16th. The asset manager reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $140.94 million for the quarter, compared to analyst estimates of $138.84 million. Cohen & Steers had a return on equity of 29.40% and a net margin of 29.73%.The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a $0.62 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.9%. Cohen & Steers’s dividend payout ratio is currently 77.74%.

Insider Activity

In other Cohen & Steers news, Director Martin Cohen purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average cost of $59.69 per share, with a total value of $2,984,500.00. Following the transaction, the director directly owned 899,205 shares in the company, valued at approximately $53,673,546.45. The trade was a 5.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 100,000 shares of company stock valued at $5,982,368. 47.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNS. Caitong International Asset Management Co. Ltd bought a new stake in Cohen & Steers in the first quarter worth $25,000. Geneos Wealth Management Inc. raised its position in shares of Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after purchasing an additional 297 shares during the last quarter. Covestor Ltd boosted its stake in Cohen & Steers by 17.3% in the 3rd quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock worth $126,000 after purchasing an additional 284 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Cohen & Steers during the 1st quarter valued at about $172,000. Finally, Tower Research Capital LLC TRC increased its stake in Cohen & Steers by 376.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the asset manager’s stock valued at $194,000 after purchasing an additional 2,035 shares in the last quarter. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.