Evercore ISI Raises Cohen & Steers (NYSE:CNS) Price Target to $96.00

Cohen & Steers (NYSE:CNS) had its price target boosted by Evercore ISI from $92.00 to $96.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Separately, UBS Group lowered their price target on Cohen & Steers from $65.00 to $63.00 and set a sell rating for the company in a research report on Wednesday, July 10th.

Cohen & Steers Trading Down 2.9 %

NYSE CNS opened at $91.50 on Friday. The stock has a fifty day simple moving average of $88.72 and a 200-day simple moving average of $78.48. The stock has a market cap of $4.62 billion, a PE ratio of 35.60 and a beta of 1.54. Cohen & Steers has a twelve month low of $50.05 and a twelve month high of $97.57.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share for the quarter. The company had revenue of $121.70 million during the quarter, compared to analyst estimates of $121.48 million. Cohen & Steers had a net margin of 26.21% and a return on equity of 34.08%. Cohen & Steers’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Monday, August 12th. Cohen & Steers’s dividend payout ratio (DPR) is currently 91.83%.

Insiders Place Their Bets

In other news, EVP Jon Cheigh sold 12,500 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the sale, the executive vice president now directly owns 155,311 shares in the company, valued at approximately $13,058,548.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Elena Dulik sold 1,100 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $86.45, for a total value of $95,095.00. Following the transaction, the chief accounting officer now owns 20,091 shares of the company’s stock, valued at $1,736,866.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jon Cheigh sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $84.08, for a total value of $1,051,000.00. Following the completion of the sale, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,600 shares of company stock worth $1,710,365 in the last ninety days. 47.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP boosted its holdings in Cohen & Steers by 29.1% in the first quarter. Wasatch Advisors LP now owns 3,124,662 shares of the asset manager’s stock valued at $240,255,000 after purchasing an additional 703,999 shares in the last quarter. Vanguard Group Inc. lifted its position in Cohen & Steers by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,666,537 shares of the asset manager’s stock valued at $201,937,000 after acquiring an additional 31,525 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cohen & Steers by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,176,861 shares of the asset manager’s stock valued at $85,390,000 after acquiring an additional 35,905 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Cohen & Steers by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 937,797 shares of the asset manager’s stock valued at $68,047,000 after purchasing an additional 9,960 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Cohen & Steers by 20.9% during the second quarter. Bank of New York Mellon Corp now owns 646,835 shares of the asset manager’s stock worth $46,934,000 after buying an additional 111,649 shares during the period. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Cohen & Steers Company Profile

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.