Cohen & Steers (NYSE:CNS) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Cohen & Steers shares rose above their 200-day moving average, reaching $74.04 and last trading near $73.68, though they remained below the 50-day average of $80.53.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $78.00. One firm recently downgraded the stock, while Evercore maintained an “outperform” rating with an $88 target.
• The company reported revenue growth of 12.2% year over year but narrowly missed quarterly earnings expectations, while its $0.67 quarterly dividend provides a 3.6% annualized yield.

Cohen & Steers Inc (NYSE:CNS - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $73.50 and traded as high as $74.04. Cohen & Steers shares last traded at $73.6760, with a volume of 408,491 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNS. Weiss Ratings downgraded shares of Cohen & Steers from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. Evercore reissued an "outperform" rating and set a $88.00 price target on shares of Cohen & Steers in a research report on Monday, August 10th. One investment 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. Based on data from MarketBeat, Cohen & Steers presently has a consensus rating of "Hold" and an average price target of $78.00.

Cohen & Steers Trading Up 1.2%

The stock's 50 day moving average is $80.53 and its 200-day moving average is $73.50. The company has a market cap of $3.79 billion, a P/E ratio of 22.60, a PEG ratio of 1.77 and a beta of 1.21.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.Cohen & Steers's revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. As a group, sell-side analysts forecast that Cohen & Steers Inc will post 3.53 EPS for the current year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. Cohen & Steers's dividend payout ratio is presently 82.21%.

Insider Buying and Selling at Cohen & Steers

In related news, CAO Elena Dulik sold 1,100 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The shares were 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 trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 45.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in shares of Cohen & Steers in the 2nd quarter worth $209,000. Integrated Wealth Concepts LLC purchased a new position in Cohen & Steers during the second quarter valued at $195,000. IFP Advisors Inc lifted its position in Cohen & Steers by 196.7% during the second quarter. IFP Advisors Inc now owns 804 shares of the asset manager's stock valued at $61,000 after purchasing an additional 533 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Cohen & Steers by 22.7% during the second quarter. Squarepoint Ops LLC now owns 10,554 shares of the asset manager's stock valued at $804,000 after purchasing an additional 1,955 shares during the period. Finally, Allworth Financial LP increased its position in Cohen & Steers by 98.6% in the second quarter. Allworth Financial LP now owns 2,022 shares of the asset manager's stock worth $154,000 after buying an additional 1,004 shares in the last quarter. 51.47% of the stock is currently owned by institutional investors.

About Cohen & Steers

Cohen & Steers, Inc is a global investment management company specializing in real assets and alternative income investments. The firm serves institutional investors, financial intermediaries and individual investors through a range of investment strategies and vehicles.

Its offerings include portfolios focused on listed and private real estate, infrastructure, preferred securities, commodities, natural resource equities and other real-asset investments. Cohen & Steers provides mutual funds, exchange-traded funds, separately managed accounts and other investment products designed to provide income, diversification and exposure to real assets.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and serves clients across North America, Europe and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.