Cohen & Steers (NYSE:CNS) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Cohen & Steers shares rose above their 200-day moving average during Friday’s trading, reaching as high as $82.68 and last trading near $81.31. The move came on volume of 236,769 shares.
• Analysts remain cautious overall, with a consensus rating of “Hold” and an average price target of $76.00, though Evercore reaffirmed an “outperform” rating with an $84 target.
• Latest earnings showed mixed results: quarterly EPS of $0.85 missed expectations by a penny, while revenue of $151.84 million beat estimates and rose 12.2% year over year.

Cohen & Steers Inc (NYSE:CNS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $69.50 and traded as high as $82.68. Cohen & Steers shares last traded at $81.3140, with a volume of 236,769 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings raised shares of Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, June 29th. Evercore reaffirmed an "outperform" rating and set a $84.00 price objective on shares of Cohen & Steers in a research report on Friday, July 10th. Finally, Zacks Research upgraded shares of Cohen & Steers from a "strong sell" rating to a "hold" rating in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $76.00.

Cohen & Steers Price Performance

The business has a 50 day simple moving average of $75.83 and a 200 day simple moving average of $69.50. The stock has a market cap of $4.18 billion, a PE ratio of 24.94, a P/E/G ratio of 1.97 and a beta of 1.22.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The firm had revenue of $151.84 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.73 earnings per share. As a group, sell-side analysts forecast that Cohen & Steers Inc will post 3.59 earnings per share for the current fiscal year.

Cohen & Steers Dividend Announcement

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

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the sale, the executive vice president directly owned 28,682 shares in the company, valued at $2,217,979.06. The trade was a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 45.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CNS. Kestra Advisory Services LLC acquired a new stake in shares of Cohen & Steers in the 4th quarter valued at $28,000. Geneos Wealth Management Inc. increased its position in Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock worth $31,000 after buying an additional 297 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Cohen & Steers during the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd raised its holdings in Cohen & Steers by 110.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager's stock valued at $36,000 after buying an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Cohen & Steers by 754.9% in the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager's stock worth $38,000 after buying an additional 536 shares during the last quarter. 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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