Cohen & Steers (NYSE:CNS) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Cohen & Steers Inc (NYSE:CNS)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $73.50 and traded as high as $74.04. Cohen & Steers shares last traded at $73.6760, with a volume of 408,491 shares trading hands.

Analyst Ratings Changes

CNS has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Cohen & Steers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Evercore reissued an “outperform” rating and set a $88.00 price target on shares of Cohen & Steers in a research report on Monday, August 10th. One equities 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 company. According to data from MarketBeat.com, Cohen & Steers has an average rating of “Hold” and a consensus price target of $78.00.

Cohen & Steers Trading Up 1.2%

The firm’s fifty day moving average price is $80.53 and its 200 day moving average price is $73.50. The firm has a market capitalization of $3.79 billion, a PE ratio of 22.60, a PEG ratio of 1.80 and a beta of 1.21.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The firm had revenue of $151.84 million for the quarter, compared to analysts’ expectations of $149.45 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. Cohen & Steers’s revenue was up 12.2% on a year-over-year basis. As a group, research analysts expect that Cohen & Steers Inc will post 3.53 EPS for the current year.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were issued a $0.67 dividend. The ex-dividend date was Monday, August 10th. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. Cohen & Steers’s dividend payout ratio is currently 82.21%.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $83.16, for a total value of $91,476.00. Following the completion of the sale, the chief accounting officer directly owned 22,146 shares of the company’s stock, valued at $1,841,661.36. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 45.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in Cohen & Steers in the second quarter worth $29,000. Hantz Financial Services Inc. raised its holdings in Cohen & Steers by 754.9% during the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock valued at $38,000 after buying an additional 536 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Cohen & Steers by 88.9% during the first quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager’s stock valued at $38,000 after buying an additional 287 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Cohen & Steers by 145.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the asset manager’s stock valued at $42,000 after buying an additional 392 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Cohen & Steers by 196.7% in the second quarter. IFP Advisors Inc now owns 804 shares of the asset manager’s stock worth $61,000 after buying an additional 533 shares during the last quarter. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a global investment management company specializing in real assets and alternative income investments. The firm serves institutional investors, financial intermediaries and individual investors through a range of investment strategies and vehicles.

Its offerings include portfolios focused on listed and private real estate, infrastructure, preferred securities, commodities, natural resource equities and other real-asset investments. Cohen & Steers provides mutual funds, exchange-traded funds, separately managed accounts and other investment products designed to provide income, diversification and exposure to real assets.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and serves clients across North America, Europe and the Asia-Pacific region.