Cohen & Steers, Inc. (NYSE:CNS) Declares Quarterly Dividend of $0.59

Cohen & Steers, Inc. (NYSE:CNS) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Monday, August 12th will be given a dividend of 0.59 per share by the asset manager on Thursday, August 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, August 12th.

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 payout ratio of 71.5% indicating that its dividend is sufficiently covered by earnings.

Cohen & Steers Stock Performance

CNS stock traded down $1.50 during mid-day trading on Friday, reaching $82.78. The company had a trading volume of 184,369 shares, compared to its average volume of 209,998. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 32.22 and a beta of 1.53. The firm has a fifty day simple moving average of $74.64 and a 200 day simple moving average of $72.64. Cohen & Steers has a fifty-two week low of $50.05 and a fifty-two week high of $87.77.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $121.70 million for the quarter, compared to analyst estimates of $121.48 million. Cohen & Steers had a return on equity of 36.67% and a net margin of 26.27%. Cohen & Steers’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS.

Insider Transactions at Cohen & Steers

In other news, EVP Jon Cheigh sold 7,159 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $72.57, for a total transaction of $519,528.63. Following the sale, the executive vice president now owns 167,018 shares of the company’s stock, valued at approximately $12,120,496.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jon Cheigh sold 7,159 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $72.57, for a total transaction of $519,528.63. Following the transaction, the executive vice president now owns 167,018 shares in the company, valued at approximately $12,120,496.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $86.45, for a total value of $95,095.00. Following the transaction, the chief accounting officer now owns 20,091 shares in the company, valued at approximately $1,736,866.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,759 shares of company stock valued at $2,229,894. Corporate insiders own 47.60% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group cut their target price on Cohen & Steers from $65.00 to $63.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th.

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.