Cohen & Steers (NYSE:CNS) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Cohen & Steers Inc (NYSE:CNS) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $67.07 and traded as high as $68.98. Cohen & Steers shares last traded at $67.08, with a volume of 287,979 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Cohen & Steers has an average rating of “Reduce” and an average target price of $72.50.

Cohen & Steers Trading Down 0.4%

The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.00 and a beta of 1.27. The firm has a 50 day moving average price of $65.70 and a two-hundred day moving average price of $67.02.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, January 22nd. The asset manager reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $143.79 million for the quarter, compared to analyst estimates of $144.30 million. Cohen & Steers had a net margin of 27.55% and a return on equity of 29.37%. Cohen & Steers’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share.

Cohen & Steers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.62. Cohen & Steers’s payout ratio is 83.22%.

Insiders Place Their Bets

In related news, EVP Francis C. Poli sold 10,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $65.73, for a total transaction of $657,300.00. Following the completion of the sale, the executive vice president directly owned 55,675 shares of the company’s stock, valued at approximately $3,659,517.75. This represents a 15.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Cohen & Steers in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its holdings in Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after acquiring an additional 297 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Cohen & Steers in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Cohen & Steers by 110.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 299 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in shares of Cohen & Steers by 754.9% in the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 536 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

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).