Cohen & Steers (NYSE:CNS) Shares Gap Up to $66.11

Cohen & Steers, Inc. (NYSE:CNS - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $66.11, but opened at $73.73. Cohen & Steers shares last traded at $71.48, with a volume of 268,235 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNS. TheStreet raised shares of Cohen & Steers from a "c+" rating to a "b-" rating in a research note on Tuesday, December 26th. UBS Group cut their price target on shares of Cohen & Steers from $69.00 to $67.00 and set a "sell" rating on the stock in a report on Friday, April 12th.

Cohen & Steers Price Performance

The stock's fifty day moving average price is $72.53 and its 200 day moving average price is $66.54. The stock has a market capitalization of $3.59 billion, a P/E ratio of 27.84 and a beta of 1.45.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.01). Cohen & Steers had a return on equity of 36.96% and a net margin of 26.27%. The company had revenue of $122.71 million during the quarter, compared to the consensus estimate of $125.01 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis.

Cohen & Steers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.26%. This is a boost from Cohen & Steers's previous quarterly dividend of $0.57. The ex-dividend date was Friday, March 1st. Cohen & Steers's dividend payout ratio is presently 90.77%.

Insiders Place Their Bets

In other news, Director Richard P. Simon sold 6,942 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $71.76, for a total value of $498,157.92. Following the sale, the director now directly owns 24,973 shares in the company, valued at approximately $1,792,062.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard P. Simon sold 6,942 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $71.76, for a total value of $498,157.92. Following the sale, the director now directly owns 24,973 shares in the company, valued at approximately $1,792,062.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard P. Simon sold 3,058 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $71.81, for a total transaction of $219,594.98. Following the completion of the sale, the director now owns 21,915 shares in the company, valued at $1,573,716.15. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock worth $1,009,713 in the last three months. Corporate insiders own 47.60% of the company's stock.

Institutional Trading of Cohen & Steers

Institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its position in shares of Cohen & Steers by 7.4% in the 1st quarter. American Century Companies Inc. now owns 14,748 shares of the asset manager's stock valued at $1,267,000 after purchasing an additional 1,012 shares during the last quarter. Citigroup Inc. raised its position in shares of Cohen & Steers by 83.4% in the 1st quarter. Citigroup Inc. now owns 16,988 shares of the asset manager's stock valued at $1,459,000 after purchasing an additional 7,727 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Cohen & Steers by 7.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,091 shares of the asset manager's stock valued at $1,038,000 after purchasing an additional 820 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cohen & Steers in the 1st quarter valued at approximately $89,000. Finally, MetLife Investment Management LLC raised its position in shares of Cohen & Steers by 53.0% in the 1st quarter. MetLife Investment Management LLC now owns 13,124 shares of the asset manager's stock valued at $1,127,000 after purchasing an additional 4,544 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors.

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.