Cohen & Steers (NYSE:CNS) Reaches New 12-Month High - Should You Buy?

Key Points

• Cohen & Steers shares reached a new 52-week high of $84.99, above the analyst consensus price target of $76.00. Wall Street’s overall rating remains “Hold,” with one Buy, two Hold and one Sell rating.
• The asset manager’s latest quarter showed revenue growth of 12.2% year over year to $151.84 million, though earnings of $0.85 per share narrowly missed estimates.
• The company announced a quarterly dividend of $0.67 per share, equating to an annualized $2.68 payout and a 3.2% yield. Insiders own 45.4% of the stock, while recent transactions included share sales by two executives.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $84.99 and last traded at $84.0380, with a volume of 18046 shares changing hands. The stock had previously closed at $82.27.

Wall Street Analyst Weigh In

CNS has been the topic of several research analyst reports. Weiss Ratings upgraded Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 29th. Evercore reissued an "outperform" rating and issued a $84.00 price target on shares of Cohen & Steers in a report on Friday, July 10th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $76.00.

Cohen & Steers Stock Performance

The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 2.03 and a beta of 1.21. The stock's 50 day simple moving average is $76.80 and its 200-day simple moving average is $70.04.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company 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 company's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. On average, analysts expect that Cohen & Steers Inc will post 3.49 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be paid a $0.67 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Cohen & Steers's dividend payout ratio (DPR) is 82.21%.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the business's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the sale, the chief accounting officer owned 22,146 shares in the company, valued at approximately $1,841,661.36. The trade was a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Noonan sold 4,360 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value of $337,158.80. Following the sale, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 45.40% of the company's stock.

Hedge Funds Weigh In On Cohen & Steers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in Cohen & Steers by 2.0% during the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager's stock valued at $4,124,000 after acquiring an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cohen & Steers by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager's stock worth $1,313,000 after acquiring an additional 716 shares during the period. Millennium Management LLC raised its holdings in shares of Cohen & Steers by 485.1% during the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager's stock worth $7,477,000 after purchasing an additional 77,251 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Cohen & Steers during the first quarter worth $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cohen & Steers by 3.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager's stock valued at $5,838,000 after purchasing an additional 2,155 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).

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