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

Key Points

• Cohen & Steers shares briefly moved above their 200-day moving average of $74.12, reaching $74.15 before trading near $72.95. The company has a $3.75 billion market capitalization.
• Analysts maintain a generally cautious outlook: the consensus rating is “Hold” with an $88 price target, following Weiss Ratings’ downgrade and Evercore’s reaffirmed “outperform” rating.
• The company reported quarterly revenue of $151.84 million, up 12.2% year over year, but earnings per share of $0.85 narrowly missed estimates. Cohen & Steers also paid a $0.67 quarterly dividend, representing a 3.7% yield.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $74.12 and traded as high as $74.15. Cohen & Steers shares last traded at $72.9480, with a volume of 172,671 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CNS shares. Weiss Ratings downgraded shares of Cohen & Steers from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 17th. Evercore restated an "outperform" rating and set a $88.00 price target on shares of Cohen & Steers in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $88.00.

Cohen & Steers Trading Down 0.2%

The business's fifty day moving average is $79.25 and its 200 day moving average is $74.12. The firm has a market capitalization of $3.75 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.78 and a beta of 1.22.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its 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 business had revenue of $151.84 million for the quarter, compared to the consensus estimate of $149.45 million. Cohen & Steers had a return on equity of 27.41% 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 business posted $0.73 earnings per share. As a group, sell-side analysts predict that Cohen & Steers Inc will post 3.53 earnings per share for the current fiscal year.

Cohen & Steers Announces Dividend

The business also recently disclosed 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, August 10th. Cohen & Steers's dividend payout ratio is 82.21%.

Insider Buying and Selling at Cohen & Steers

In other news, CAO Elena Dulik sold 1,100 shares of the firm's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the sale, the chief accounting officer directly owned 22,146 shares of the company's stock, valued at $1,841,661.36. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 45.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cohen & Steers

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Cohen & Steers by 88.9% in the first quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager's stock worth $38,000 after acquiring an additional 287 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Cohen & Steers by 1.3% during the first quarter. Sanctuary Advisors LLC now owns 24,423 shares of the asset manager's stock valued at $1,528,000 after buying an additional 315 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Cohen & Steers by 6.5% during the first quarter. Bessemer Group Inc. now owns 5,282 shares of the asset manager's stock valued at $330,000 after buying an additional 324 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Cohen & Steers by 4.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,695 shares of the asset manager's stock valued at $586,000 after buying an additional 358 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Cohen & Steers during the second quarter valued at $29,000. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a global investment management company specializing in listed real assets and alternative income. The firm manages portfolios focused on areas such as real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented investments.

Its investment solutions are offered through mutual funds, exchange-traded funds, closed-end funds, institutional accounts and separately managed accounts. Cohen & Steers serves a range of clients, including institutional investors, financial advisers and individual investors, with strategies covering markets in the United States and internationally.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and maintains an international presence to support its global investment activities.

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