UBS Group Lowers Cohen & Steers (NYSE:CNS) Price Target to $67.00

Cohen & Steers (NYSE:CNS) had its target price cut by UBS Group from $69.00 to $67.00 in a research report report published on Friday morning, Benzinga reports. They currently have a sell rating on the asset manager’s stock.

Separately, TheStreet raised Cohen & Steers from a c+ rating to a b- rating in a report on Tuesday, December 26th.

Cohen & Steers Stock Performance

NYSE CNS opened at $68.49 on Friday. Cohen & Steers has a 52 week low of $50.05 and a 52 week high of $78.58. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 26.34 and a beta of 1.45. The stock’s 50 day moving average price is $72.60 and its two-hundred day moving average price is $66.43.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Wednesday, January 24th. The asset manager reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Cohen & Steers had a return on equity of 38.52% and a net margin of 26.36%. The company had revenue of $119.19 million for the quarter, compared to analysts’ expectations of $122.80 million. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue was down 4.9% compared to the same quarter last year.

Cohen & Steers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.57. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.45%. Cohen & Steers’s payout ratio is presently 90.77%.

Insider Buying and Selling

In related news, Director Edmond D. Villani sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total transaction of $291,960.00. Following the transaction, the director now directly owns 33,781 shares of the company’s stock, valued at approximately $2,465,675.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cohen & Steers news, Director Richard P. Simon sold 6,942 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $71.76, for a total transaction of $498,157.92. Following the transaction, the director now owns 24,973 shares in the company, valued at approximately $1,792,062.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edmond D. Villani sold 4,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total value of $291,960.00. Following the transaction, the director now owns 33,781 shares in the company, valued at approximately $2,465,675.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,000 shares of company stock valued at $1,009,713. 47.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CNS. Vanguard Group Inc. increased its position in shares of Cohen & Steers by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,666,537 shares of the asset manager’s stock worth $201,937,000 after purchasing an additional 31,525 shares during the period. Wasatch Advisors LP increased its position in shares of Cohen & Steers by 54.2% in the fourth quarter. Wasatch Advisors LP now owns 2,420,663 shares of the asset manager’s stock worth $183,317,000 after purchasing an additional 851,125 shares during the period. BlackRock Inc. increased its position in shares of Cohen & Steers by 10.7% in the second quarter. BlackRock Inc. now owns 2,010,333 shares of the asset manager’s stock worth $116,579,000 after purchasing an additional 194,097 shares during the period. Victory Capital Management Inc. increased its position in shares of Cohen & Steers by 1.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,681,497 shares of the asset manager’s stock worth $127,340,000 after purchasing an additional 24,895 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Cohen & Steers by 0.6% in the first quarter. Clearbridge Investments LLC now owns 1,334,745 shares of the asset manager’s stock worth $114,641,000 after purchasing an additional 7,600 shares during the period. Institutional investors own 51.47% of the company’s stock.

About Cohen & Steers

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.