Cohen & Steers (NYSE:CNS) Shares Pass Above 200-Day Moving Average – Should You Sell?

Cohen & Steers Inc (NYSE:CNS)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $69.50 and traded as high as $82.68. Cohen & Steers shares last traded at $81.3140, with a volume of 236,769 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently commented on CNS shares. Evercore restated an “outperform” rating and set a $84.00 target price on shares of Cohen & Steers in a research report on Friday, July 10th. Weiss Ratings raised Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.00.

Cohen & Steers Stock Up 1.7%

The firm has a market capitalization of $4.18 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22. The firm’s 50-day simple moving average is $75.83 and its 200-day simple moving average is $69.50.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $151.84 million during the quarter, compared to the consensus estimate of $149.45 million. Cohen & Steers had a return on equity of 28.03% and a net margin of 28.82%.Cohen & Steers’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 EPS. As a group, analysts expect that Cohen & Steers Inc will post 3.59 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a $0.67 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.68 annualized dividend and a yield of 3.3%. Cohen & Steers’s payout ratio is 82.21%.

Insider Buying and Selling

In related news, EVP Daniel Noonan sold 4,360 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the transaction, the executive vice president owned 28,682 shares of the company’s stock, valued at $2,217,979.06. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 45.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cohen & Steers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in shares of Cohen & Steers during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. lifted its position in 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 buying an additional 297 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Cohen & Steers in the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd boosted its stake in Cohen & Steers by 110.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock worth $36,000 after buying an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Cohen & Steers by 754.9% in the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock worth $38,000 after buying an additional 536 shares in the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Cohen & Steers Company Profile

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).