Cohen & Steers (NYSE:CNS) Director Acquires $2,984,500.00 in Stock

Cohen & Steers Inc (NYSE:CNS) Director Martin Cohen bought 50,000 shares of Cohen & Steers stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average price of $59.69 per share, for a total transaction of $2,984,500.00. Following the completion of the acquisition, the director owned 899,205 shares in the company, valued at approximately $53,673,546.45. The trade was a 5.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Martin Cohen also recently made the following trade(s):

• On Thursday, November 20th, Martin Cohen purchased 12,708 shares of Cohen & Steers stock. The stock was acquired at an average cost of $60.83 per share, with a total value of $773,027.64.
• On Wednesday, November 19th, Martin Cohen purchased 37,292 shares of Cohen & Steers stock. The stock was bought at an average price of $59.66 per share, with a total value of $2,224,840.72.

Cohen & Steers Stock Down 0.3%

NYSE CNS traded down $0.20 during trading hours on Thursday, hitting $59.40. 725,183 shares of the company were exchanged, compared to its average volume of 244,597. Cohen & Steers Inc has a 52 week low of $58.80 and a 52 week high of $107.31. The stock has a 50-day moving average price of $67.43 and a 200 day moving average price of $72.96. The stock has a market cap of $3.03 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Thursday, October 16th. The asset manager reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.The firm had revenue of $140.94 million during the quarter, compared to analysts’ expectations of $138.84 million. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, November 10th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.48 annualized dividend and a dividend yield of 4.2%. Cohen & Steers’s dividend payout ratio is currently 77.74%.

Institutional Trading of Cohen & Steers

A number of hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cohen & Steers in the 1st quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its stake in Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Cohen & Steers in the first quarter worth $110,000. Covestor Ltd grew its holdings in Cohen & Steers by 17.3% in the third quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock worth $126,000 after purchasing an additional 284 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Cohen & Steers during the first quarter worth $172,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CNS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, October 8th. Evercore ISI boosted their target price on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Bank of America increased their price target on Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.50.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.