Zacks Investment Research upgraded shares of Cohen & Steers (NYSE:CNS) from a sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Shares of Cohen & Steers have outperformed the industry over the past six months. Also, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Improving assets under management (AUM) and diverse investment products are expected to continue supporting its revenue growth. Moreover, its efficient capital deployment activities reflect a strong capital position. However, continuously increasing expenses are expected to hurt its profitability to some extent. Moreover, as the company continues to invest in its franchise, operating expenses are expected to remain elevated in the future. Further, a stretched valuation limits the upside potential of the stock.”

Separately, ValuEngine cut Cohen & Steers from a hold rating to a sell rating in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Cohen & Steers has an average rating of Hold and a consensus target price of $44.50.

Shares of NYSE CNS opened at $35.65 on Tuesday. Cohen & Steers has a 52-week low of $34.29 and a 52-week high of $47.83. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.63 and a beta of 1.07.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Wednesday, October 17th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Cohen & Steers had a return on equity of 38.16% and a net margin of 28.13%. The firm had revenue of $98.30 million for the quarter, compared to analysts’ expectations of $99.05 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Cohen & Steers’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts expect that Cohen & Steers will post 2.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, November 19th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Friday, November 16th. Cohen & Steers’s payout ratio is currently 63.77%.

Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of Cohen & Steers during the 3rd quarter worth approximately $108,000. Sageworth Trust Co raised its position in shares of Cohen & Steers by 500.0% during the 3rd quarter. Sageworth Trust Co now owns 3,000 shares of the asset manager’s stock worth $122,000 after purchasing an additional 2,500 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Cohen & Steers during the 2nd quarter worth approximately $202,000. MML Investors Services LLC acquired a new stake in shares of Cohen & Steers during the 3rd quarter worth approximately $216,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Cohen & Steers by 33.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,499 shares of the asset manager’s stock worth $229,000 after purchasing an additional 1,391 shares during the period. Institutional investors and hedge funds own 48.52% of the company’s stock.

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.

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