Cohen & Steers (NYSE:CNS) Stock Price Crosses Above Two Hundred 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 Thursday . The stock has a two hundred day moving average of $67.16 and traded as high as $77.25. Cohen & Steers shares last traded at $76.39, with a volume of 373,388 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CNS shares. Zacks Research raised shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Evercore reaffirmed an “outperform” rating and set a $82.00 price target on shares of Cohen & Steers in a research report on Monday, June 8th. Finally, Weiss Ratings upgraded Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $75.00.

Cohen & Steers Stock Performance

The business has a 50-day moving average of $71.84 and a 200-day moving average of $67.16. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 2.08 and a beta of 1.25.

Cohen & Steers (NYSE:CNS) last issued 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). Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%. The company had revenue of $144.26 million during the quarter, compared to analysts’ expectations of $140.62 million. During the same quarter last year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Cohen & Steers Inc will post 3.47 earnings per share for the current fiscal year.

Cohen & Steers Announces Dividend

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 dividend yield of 3.5%. Cohen & Steers’s dividend payout ratio (DPR) is presently 88.45%.

Insiders Place Their Bets

In related news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction that occurred on Tuesday, June 16th. The shares were 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 owned 28,682 shares in the company, valued at approximately $2,217,979.06. This trade represents a 13.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 45.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CNS. Wasatch Advisors LP boosted its position in shares of Cohen & Steers by 15.1% during the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after buying an additional 323,759 shares during the period. State Street Corp raised its holdings in shares of Cohen & Steers by 1.0% in the 4th quarter. State Street Corp now owns 1,180,611 shares of the asset manager’s stock valued at $74,119,000 after buying an additional 12,042 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cohen & Steers by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,174,579 shares of the asset manager’s stock valued at $73,467,000 after buying an additional 50,580 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Cohen & Steers by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,988 shares of the asset manager’s stock worth $71,066,000 after acquiring an additional 30,884 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Cohen & Steers by 215.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 770,149 shares of the asset manager’s stock worth $48,350,000 after acquiring an additional 526,096 shares in the last quarter. 51.47% of the stock is currently 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).