Cohen & Steers, Inc. (NYSE:CNS) to Issue Quarterly Dividend of $0.59

Cohen & Steers, Inc. (NYSE:CNS) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.59 per share by the asset manager on Thursday, May 23rd. This represents a $2.36 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, May 10th.

Cohen & Steers has raised its dividend payment by an average of 13.5% per year over the last three years and has raised its dividend every year for the last 15 years. Cohen & Steers has a dividend payout ratio of 74.0% meaning its dividend is sufficiently covered by earnings.

Cohen & Steers Trading Up 1.4 %

CNS stock opened at $70.62 on Friday. The stock has a 50-day moving average price of $72.36 and a 200-day moving average price of $67.35. Cohen & Steers has a 1-year low of $50.05 and a 1-year high of $78.58. The firm has a market cap of $3.50 billion, a PE ratio of 27.48 and a beta of 1.45.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.70 earnings per share 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 business had revenue of $122.71 million during the quarter, compared to the consensus estimate of $125.01 million. During the same period last year, the business posted $0.76 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis.

Insider Activity at Cohen & Steers

In related news, Director Richard P. Simon sold 6,942 shares of the business’s 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 completion of the sale, the director now directly owns 24,973 shares of the company’s stock, valued at approximately $1,792,062.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard P. Simon sold 6,942 shares of the business’s 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 completion of the sale, the director now directly owns 24,973 shares of the company’s stock, valued at approximately $1,792,062.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edmond D. Villani sold 4,000 shares of Cohen & Steers stock in a transaction dated Tuesday, March 12th. The shares were 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 of the company’s stock, valued at approximately $2,465,675.19. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $1,009,713 in the last three months. Corporate insiders own 47.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their target price on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a research report on Friday, April 12th.

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.