Martin Cohen Acquires 37,292 Shares of Cohen & Steers (NYSE:CNS) Stock

Cohen & Steers Inc (NYSE:CNS) Director Martin Cohen bought 37,292 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $59.66 per share, for a total transaction of $2,224,840.72. Following the completion of the acquisition, the director owned 936,497 shares of the company’s stock, valued at approximately $55,871,411.02. This represents a 4.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, November 20th, Martin Cohen purchased 12,708 shares of Cohen & Steers stock. The shares were bought at an average price of $60.83 per share, with a total value of $773,027.64.
• On Tuesday, November 18th, Martin Cohen acquired 50,000 shares of Cohen & Steers stock. The shares were bought at an average cost of $59.69 per share, for a total transaction of $2,984,500.00.

Cohen & Steers Stock Performance

Shares of CNS stock opened at $61.40 on Friday. The stock’s 50 day simple moving average is $66.98 and its 200 day simple moving average is $72.75. Cohen & Steers Inc has a twelve month low of $58.80 and a twelve month high of $107.31. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.81 and a beta of 1.40.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Thursday, October 16th. The asset manager reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.The company had revenue of $140.94 million for the quarter, compared to the consensus estimate of $138.84 million. During the same quarter last year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, November 10th. Cohen & Steers’s dividend payout ratio (DPR) is 77.74%.

Hedge Funds Weigh In On Cohen & Steers

Several large investors have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in Cohen & Steers in the first quarter valued at approximately $441,000. Nuveen LLC acquired a new position in Cohen & Steers in the first quarter valued at about $6,193,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Cohen & Steers by 92.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,784 shares of the asset manager’s stock worth $813,000 after acquiring an additional 5,175 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Cohen & Steers by 3.5% in the first quarter. Northern Trust Corp now owns 377,962 shares of the asset manager’s stock worth $30,331,000 after acquiring an additional 12,812 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Cohen & Steers by 9.9% during the first quarter. Hsbc Holdings PLC now owns 89,342 shares of the asset manager’s stock worth $7,147,000 after purchasing an additional 8,067 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

Wall Street Analyst Weigh In

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

About Cohen & Steers

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.