Cohen & Steers (NYSE:CNS) Stock Price Up 4.8% After Better-Than-Expected Earnings

Cohen & Steers, Inc. (NYSE:CNS - Get Free Report) shot up 4.8% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $106.31 and last traded at $106.07. 3,513 shares were traded during mid-day trading, a decline of 98% from the average session volume of 219,995 shares. The stock had previously closed at $101.17.

The asset manager reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $133.20 million during the quarter, compared to the consensus estimate of $124.18 million. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, August 12th. Cohen & Steers's dividend payout ratio (DPR) is presently 91.83%.

Analysts Set New Price Targets

Several brokerages have recently commented on CNS. Evercore ISI increased their target price on shares of Cohen & Steers from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, October 4th. UBS Group raised shares of Cohen & Steers from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $63.00 to $102.00 in a research report on Thursday.

Insiders Place Their Bets

In related news, EVP Jon Cheigh sold 12,500 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $84.08, for a total transaction of $1,051,000.00. Following the completion of the transaction, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jon Cheigh sold 12,500 shares of Cohen & Steers stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $84.08, for a total value of $1,051,000.00. Following the sale, the executive vice president now owns 155,311 shares of the company's stock, valued at approximately $13,058,548.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $86.45, for a total value of $95,095.00. Following the transaction, the chief accounting officer now directly owns 20,091 shares of the company's stock, valued at approximately $1,736,866.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,600 shares of company stock valued at $1,710,365. Insiders own 47.60% of the company's stock.

Institutional Investors Weigh In On Cohen & Steers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNS. nVerses Capital LLC bought a new position in Cohen & Steers during the third quarter worth about $125,000. Creative Planning lifted its stake in shares of Cohen & Steers by 54.1% during the 3rd quarter. Creative Planning now owns 18,396 shares of the asset manager's stock valued at $1,765,000 after buying an additional 6,456 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cohen & Steers by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 610 shares of the asset manager's stock worth $59,000 after buying an additional 240 shares during the period. Handelsbanken Fonder AB raised its holdings in Cohen & Steers by 15.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,051 shares of the asset manager's stock valued at $581,000 after acquiring an additional 800 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Cohen & Steers by 207.5% in the third quarter. SG Americas Securities LLC now owns 4,286 shares of the asset manager's stock worth $411,000 after acquiring an additional 2,892 shares during the period. 51.47% of the stock is currently owned by institutional investors.

Cohen & Steers Stock Performance

The business has a 50 day moving average of $90.81 and a 200-day moving average of $79.59. The company has a market capitalization of $5.32 billion, a P/E ratio of 40.99 and a beta of 1.54.

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.