ValuEngine Downgrades Cohen & Steers (NYSE:CNS) to Hold

ValuEngine cut shares of Cohen & Steers (NYSE:CNS) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Several other brokerages have also recently weighed in on CNS. Gabelli cut shares of Cohen & Steers from a buy rating to a hold rating in a research report on Monday, April 22nd. Zacks Investment Research cut shares of Cohen & Steers from a hold rating to a sell rating and set a $55.00 price target on the stock. in a research report on Friday, July 26th. Finally, Bank of America set a $37.00 price target on shares of Cohen & Steers and gave the stock a sell rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $44.33.

Shares of CNS stock traded down $1.27 during mid-day trading on Thursday, hitting $50.81. The company had a trading volume of 42,847 shares, compared to its average volume of 169,674. Cohen & Steers has a 52-week low of $32.95 and a 52-week high of $53.52. The company has a 50 day simple moving average of $51.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.62 and a quick ratio of 6.62. The stock has a market capitalization of $2.41 billion, a P/E ratio of 21.17, a P/E/G ratio of 3.54 and a beta of 0.94.

Cohen & Steers (NYSE:CNS) last released its earnings results on Wednesday, July 17th. The asset manager reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). Cohen & Steers had a return on equity of 43.76% and a net margin of 30.97%. The company had revenue of $101.80 million during the quarter, compared to analysts’ expectations of $102.17 million. During the same period last year, the firm posted $0.59 EPS. Cohen & Steers’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Cohen & Steers will post 2.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, August 12th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, August 9th. Cohen & Steers’s dividend payout ratio is presently 60.00%.

In related news, CFO Matthew S. Stadler sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $51.29, for a total value of $2,564,500.00. Following the sale, the chief financial officer now owns 168,227 shares in the company, valued at $8,628,362.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 50.63% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC bought a new position in shares of Cohen & Steers in the first quarter worth about $56,000. Advisor Group Inc. grew its holdings in shares of Cohen & Steers by 32.5% in the fourth quarter. Advisor Group Inc. now owns 2,631 shares of the asset manager’s stock worth $90,000 after purchasing an additional 646 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Cohen & Steers in the first quarter worth about $109,000. Garner Asset Management Corp bought a new position in shares of Cohen & Steers in the first quarter worth about $210,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Cohen & Steers by 341.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,764 shares of the asset manager’s stock worth $232,000 after purchasing an additional 5,231 shares during the last quarter. Institutional investors and hedge funds own 45.45% of the company’s stock.

About Cohen & Steers

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.

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