Cohen & Steers, Inc. (NYSE:CNS) Sees Large Drop in Short Interest

Cohen & Steers, Inc. (NYSE:CNS) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 2,110,000 shares, a drop of 8.3% from the August 31st total of 2,300,000 shares. Based on an average trading volume of 185,800 shares, the days-to-cover ratio is currently 11.4 days. Currently, 7.8% of the company’s shares are sold short.

Cohen & Steers Trading Down 2.6 %

CNS stock traded down $2.46 during trading on Tuesday, hitting $93.49. 143,739 shares of the company’s stock were exchanged, compared to its average volume of 221,668. The business has a 50-day moving average price of $88.06 and a two-hundred day moving average price of $77.91. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 36.38 and a beta of 1.54. Cohen & Steers has a 52-week low of $50.05 and a 52-week high of $97.57.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share (EPS) for the quarter. Cohen & Steers had a net margin of 26.21% and a return on equity of 34.08%. The business had revenue of $121.70 million during the quarter, compared to analysts’ expectations of $121.48 million. During the same quarter in the prior year, the business posted $0.70 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 2.52%. Cohen & Steers’s dividend payout ratio is presently 91.83%.

Wall Street Analysts Forecast Growth

CNS has been the subject of several analyst reports. UBS Group lowered their price target on shares of Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Evercore ISI lifted their price objective on shares of Cohen & Steers from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th.

Insider Activity at Cohen & Steers

In related news, Director Richard P. Simon sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $80.61, for a total transaction of $564,270.00. Following the sale, the director now directly owns 15,660 shares of the company’s stock, valued at approximately $1,262,352.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $86.45, for a total value of $95,095.00. Following the sale, the chief accounting officer now owns 20,091 shares of the company’s stock, valued at approximately $1,736,866.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard P. Simon sold 7,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $80.61, for a total value of $564,270.00. Following the transaction, the director now directly owns 15,660 shares of the company’s stock, valued at $1,262,352.60. The disclosure for this sale can be found here. Insiders sold 20,600 shares of company stock worth $1,710,365 in the last three months. 47.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Cohen & Steers by 115.1% during the second quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock worth $27,000 after buying an additional 198 shares during the last quarter. Garner Asset Management Corp purchased a new position in shares of Cohen & Steers in the 4th quarter valued at approximately $84,000. Meeder Asset Management Inc. acquired a new position in shares of Cohen & Steers in the second quarter valued at approximately $161,000. Central Pacific Bank Trust Division purchased a new stake in shares of Cohen & Steers during the first quarter worth approximately $224,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Cohen & Steers by 5.5% during the second quarter. AQR Capital Management LLC now owns 3,274 shares of the asset manager’s stock worth $238,000 after purchasing an additional 172 shares during the period. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Company Profile

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.