Cohen & Steers (NYSE:CNS) CAO Sells 1,100 Shares of Stock

Key Points

• Insider sale: Chief Accounting Officer Elena Dulik sold 1,100 Cohen & Steers shares for approximately $91,476, reducing her ownership by 4.73% to 22,146 shares.
• Stock performance and earnings: CNS rose 1.6% to $82.37, near its 12-month high of $84.93. Quarterly EPS of $0.85 narrowly missed estimates, while revenue increased 12.2% year over year to $151.84 million.
• Dividend and outlook: Cohen & Steers pays a quarterly dividend of $0.67 per share, equivalent to a 3.3% yield, while analysts maintain an overall “Hold” rating with a $76 average price target.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) CAO Elena Dulik sold 1,100 shares of the firm's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $83.16, for a total value of $91,476.00. Following the transaction, the chief accounting officer owned 22,146 shares of the company's stock, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cohen & Steers Stock Up 1.6%

NYSE CNS traded up $1.31 during trading on Tuesday, hitting $82.37. The stock had a trading volume of 42,597 shares, compared to its average volume of 329,395. The company has a market capitalization of $4.23 billion, a PE ratio of 25.22, a PEG ratio of 2.01 and a beta of 1.22. The firm has a 50 day moving average price of $76.00 and a 200 day moving average price of $69.64. Cohen & Steers Inc has a twelve month low of $58.39 and a twelve month high of $84.93.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a return on equity of 28.03% and a net margin of 28.82%.The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. On average, sell-side analysts anticipate that Cohen & Steers Inc will post 3.59 earnings per share for the current year.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Cohen & Steers's dividend payout ratio is currently 82.21%.

Analyst Ratings Changes

CNS has been the subject of several analyst reports. Weiss Ratings raised Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 29th. Evercore reiterated an "outperform" rating and issued a $84.00 price objective on shares of Cohen & Steers in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cohen & Steers currently has an average rating of "Hold" and an average target price of $76.00.

Hedge Funds Weigh In On Cohen & Steers

Institutional investors and hedge funds have recently modified their holdings of the company. Legacy Wealth Asset Management LLC purchased a new position in shares of Cohen & Steers in the 2nd quarter valued at about $254,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Cohen & Steers by 67.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,494 shares of the asset manager's stock valued at $875,000 after purchasing an additional 4,630 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Cohen & Steers in the second quarter valued at approximately $5,021,000. Baron Wealth Management LLC raised its holdings in Cohen & Steers by 25.3% during the second quarter. Baron Wealth Management LLC now owns 6,100 shares of the asset manager's stock worth $464,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in Cohen & Steers during the second quarter worth approximately $1,334,000. Institutional investors and hedge funds own 51.47% of the company's stock.

About Cohen & Steers

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).

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