Cohen & Steers (NYSE:CNS) Hits New 52-Week High – Still a Buy?

Cohen & Steers Inc (NYSE:CNS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $80.21 and last traded at $79.49, with a volume of 253696 shares traded. The stock had previously closed at $78.57.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings raised shares of Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. Evercore reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Cohen & Steers in a research report on Monday, June 8th. Finally, Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.00.

Cohen & Steers Stock Performance

The stock has a market cap of $4.09 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.18 and a beta of 1.22. The stock’s fifty day moving average is $73.31 and its 200 day moving average is $67.93.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, April 16th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.03). The firm had revenue of $144.26 million during the quarter, compared to the consensus estimate of $140.62 million. Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. Equities research analysts predict that Cohen & Steers Inc will post 3.47 EPS for the current year.

Cohen & Steers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Cohen & Steers’s dividend payout ratio (DPR) is presently 88.45%.

Insider Activity

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the sale, the executive vice president directly owned 28,682 shares in the company, valued at approximately $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 45.40% of the company’s stock.

Institutional Investors Weigh In On Cohen & Steers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNS. Royal Bank of Canada grew its stake in Cohen & Steers by 2.0% in the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager’s stock valued at $4,124,000 after acquiring an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cohen & Steers by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager’s stock worth $1,313,000 after buying an additional 716 shares during the last quarter. Millennium Management LLC increased its stake in Cohen & Steers by 485.1% during the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock worth $7,477,000 after acquiring an additional 77,251 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Cohen & Steers during the 1st quarter worth about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cohen & Steers by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager’s stock valued at $5,838,000 after acquiring an additional 2,155 shares during the period. 51.47% of the stock is owned by institutional investors and hedge funds.

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).