UBS Group Trims Cohen & Steers (NYSE:CNS) Target Price to $67.00

Cohen & Steers (NYSE:CNS - Free Report) had its price target lowered by UBS Group from $69.00 to $67.00 in a research note released on Friday, Benzinga reports. UBS Group currently has a sell rating on the asset manager's stock.

Separately, TheStreet upgraded Cohen & Steers from a c+ rating to a b- rating in a research note on Tuesday, December 26th.

Cohen & Steers Price Performance

Cohen & Steers stock traded down $2.72 during midday trading on Friday, reaching $69.90. The company's stock had a trading volume of 115,549 shares, compared to its average volume of 164,157. The stock's 50-day simple moving average is $72.59 and its 200-day simple moving average is $66.30. Cohen & Steers has a 52-week low of $50.05 and a 52-week high of $78.58. The stock has a market capitalization of $3.46 billion, a P/E ratio of 26.88 and a beta of 1.45.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The asset manager reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.03. Cohen & Steers had a return on equity of 38.52% and a net margin of 26.36%. The company had revenue of $119.19 million during the quarter, compared to analysts' expectations of $122.80 million. During the same period last year, the business posted $0.79 earnings per share. The firm's revenue was down 4.9% compared to the same quarter last year.

Cohen & Steers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, March 4th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.38%. 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 (DPR) is presently 90.77%.

Insider Transactions at Cohen & Steers

In other news, Director Richard P. Simon sold 3,058 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $71.81, for a total value of $219,594.98. Following the completion of the transaction, the director now directly owns 21,915 shares in the company, valued at $1,573,716.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Edmond D. Villani sold 4,000 shares of Cohen & Steers stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total transaction of $291,960.00. Following the completion of the transaction, the director now directly owns 33,781 shares in the company, valued at $2,465,675.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard P. Simon sold 3,058 shares of Cohen & Steers stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the transaction, the director now owns 21,915 shares of the company's stock, valued at $1,573,716.15. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $1,009,713 over the last three months. 47.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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