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

Shares of Cohen & Steers Inc (NYSE:CNSGet Free Report) passed 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.

Analyst Ratings Changes

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

View Our Latest Research Report on CNS

Cohen & Steers Stock Up 1.7%

The company has a 50-day moving average price of $75.83 and a 200-day moving average price of $69.50. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 1.97 and a beta of 1.22.

Cohen & Steers (NYSE:CNSGet Free Report) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Cohen & Steers had a return on equity of 28.03% and a net margin of 28.82%.The business had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. During the same period in the prior year, the firm posted $0.73 EPS. Cohen & Steers’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts expect that Cohen & Steers Inc will post 3.59 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a dividend of $0.67 per share. The ex-dividend date was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Cohen & Steers’s payout ratio is 82.21%.

Insider Activity at Cohen & Steers

In other news, EVP Daniel Noonan sold 4,360 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was 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 of the company’s stock, valued at approximately $2,217,979.06. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cohen & Steers

A number of institutional investors and hedge funds have recently bought and sold shares of CNS. Goldman Sachs Group Inc. raised its stake in Cohen & Steers by 215.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 770,149 shares of the asset manager’s stock valued at $48,350,000 after purchasing an additional 526,096 shares during the last quarter. Norges Bank acquired a new stake in Cohen & Steers in the 4th quarter worth $30,232,000. Millennium Management LLC increased its holdings in shares of Cohen & Steers by 385.6% during the 4th quarter. Millennium Management LLC now owns 438,826 shares of the asset manager’s stock worth $27,549,000 after purchasing an additional 348,452 shares during the period. Wasatch Advisors LP increased its holdings in shares of Cohen & Steers by 15.1% during the 2nd quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after purchasing an additional 323,759 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Cohen & Steers during the 3rd quarter worth about $12,138,000. Institutional investors own 51.47% of the company’s stock.

About Cohen & Steers

(Get Free Report)

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).

Further Reading

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