Cohen & Steers (NYSE:CNS) Shares Gap Up to $66.11

Shares of Cohen & Steers, Inc. (NYSE:CNS) gapped up before the market opened on Friday . The stock had previously closed at $66.11, but opened at $73.73. Cohen & Steers shares last traded at $71.48, with a volume of 268,235 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CNS shares. TheStreet upgraded Cohen & Steers from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. UBS Group dropped their target price on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research report on Friday, April 12th.

Cohen & Steers Trading Up 9.5 %

The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 28.17 and a beta of 1.45. The stock has a 50-day moving average price of $72.53 and a 200 day moving average price of $66.58.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). Cohen & Steers had a return on equity of 36.96% and a net margin of 26.27%. The firm had revenue of $122.71 million during the quarter, compared to analyst estimates of $125.01 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis.

Cohen & Steers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.26%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, March 1st. Cohen & Steers’s payout ratio is presently 91.83%.

Insider Buying and Selling

In related news, Director Richard P. Simon sold 6,942 shares of Cohen & Steers stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $71.76, for a total value of $498,157.92. Following the sale, the director now directly owns 24,973 shares in the company, valued at approximately $1,792,062.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Richard P. Simon sold 3,058 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $71.81, for a total transaction of $219,594.98. Following the transaction, the director now directly owns 21,915 shares in the company, valued at approximately $1,573,716.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $71.76, for a total value of $498,157.92. Following the transaction, the director now owns 24,973 shares in the company, valued at $1,792,062.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,000 shares of company stock worth $1,009,713. Insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNS. Principal Securities Inc. purchased a new stake in shares of Cohen & Steers during the 4th quarter valued at approximately $28,000. Signaturefd LLC raised its position in shares of Cohen & Steers by 104.9% during the 3rd quarter. Signaturefd LLC now owns 418 shares of the asset manager’s stock valued at $26,000 after buying an additional 214 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Cohen & Steers by 294.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 548 shares of the asset manager’s stock valued at $41,000 after buying an additional 409 shares during the period. Quantbot Technologies LP raised its position in shares of Cohen & Steers by 130.4% during the 1st quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock valued at $67,000 after buying an additional 446 shares during the period. Finally, State of Wyoming raised its position in shares of Cohen & Steers by 42.0% during the 2nd quarter. State of Wyoming now owns 828 shares of the asset manager’s stock valued at $48,000 after buying an additional 245 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.