Martin Cohen Buys 50,000 Shares of Cohen & Steers (NYSE:CNS) Stock

Cohen & Steers Inc (NYSE:CNS) Director Martin Cohen bought 50,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was purchased at an average price of $59.69 per share, for a total transaction of $2,984,500.00. Following the purchase, the director directly owned 899,205 shares in the company, valued at approximately $53,673,546.45. This represents a 5.89% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible 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 shares were acquired at an average cost of $60.83 per share, with a total value of $773,027.64.
• On Wednesday, November 19th, Martin Cohen acquired 37,292 shares of Cohen & Steers stock. The stock was acquired at an average price of $59.66 per share, for a total transaction of $2,224,840.72.

Cohen & Steers Stock Up 3.2%

Shares of CNS stock opened at $61.40 on Friday. Cohen & Steers Inc has a 12 month low of $58.80 and a 12 month high of $107.31. The company’s fifty day simple moving average is $66.98 and its 200-day simple moving average is $72.75. The firm has a market cap of $3.13 billion, a PE ratio of 19.25, a P/E/G ratio of 1.81 and a beta of 1.40.

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

Cohen & Steers Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Evercore ISI increased their price target on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Bank of America upped their price objective on Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.50.

Institutional Investors Weigh In On Cohen & Steers

Several hedge funds have recently added to or reduced their stakes in CNS. Wasatch Advisors LP increased its holdings in shares of Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock valued at $185,790,000 after purchasing an additional 323,759 shares during the last quarter. State Street Corp boosted its holdings in shares of Cohen & Steers by 0.8% during the 2nd quarter. State Street Corp now owns 1,116,966 shares of the asset manager’s stock worth $84,163,000 after buying an additional 9,099 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Cohen & Steers by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,076,846 shares of the asset manager’s stock valued at $81,140,000 after buying an additional 18,537 shares during the last quarter. Boston Trust Walden Corp grew its stake in Cohen & Steers by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 922,895 shares of the asset manager’s stock valued at $69,540,000 after buying an additional 11,464 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Cohen & Steers by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 764,842 shares of the asset manager’s stock valued at $57,638,000 after acquiring an additional 13,969 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

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.