Cohen & Steers (NYSE:CNS) Price Target Cut to $67.00 by Analysts at UBS Group

Cohen & Steers (NYSE:CNS) had its price objective dropped by UBS Group from $69.00 to $67.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the asset manager’s stock. UBS Group’s price objective would suggest a potential downside of 3.87% from the company’s current price.

Separately, TheStreet raised shares of Cohen & Steers from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th.

Cohen & Steers Trading Down 4.0 %

Shares of CNS traded down $2.92 during mid-day trading on Friday, hitting $69.70. The company’s stock had a trading volume of 58,553 shares, compared to its average volume of 163,267. Cohen & Steers has a 1-year low of $50.05 and a 1-year high of $78.58. The firm has a market capitalization of $3.45 billion, a P/E ratio of 26.81 and a beta of 1.45. The firm has a 50-day simple moving average of $72.59 and a 200 day simple moving average of $66.23.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Wednesday, January 24th. The asset manager reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.03. The firm had revenue of $119.19 million during the quarter, compared to analysts’ expectations of $122.80 million. Cohen & Steers had a return on equity of 38.52% and a net margin of 26.36%. Cohen & Steers’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share.

Insider Activity

In related news, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $71.76, for a total value of $498,157.92. Following the sale, the director now directly owns 24,973 shares in the company, valued at approximately $1,792,062.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Edmond D. Villani sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total value of $291,960.00. Following the sale, the director now directly owns 33,781 shares in the company, valued at $2,465,675.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $71.76, for a total transaction of $498,157.92. Following the completion of the transaction, the director now directly owns 24,973 shares of the company’s stock, valued at approximately $1,792,062.48. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $1,009,713 over the last 90 days. 47.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cohen & Steers

Hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC grew its stake in shares of Cohen & Steers by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 13,334 shares of the asset manager’s stock valued at $861,000 after buying an additional 198 shares during the period. Signaturefd LLC raised its holdings in shares of Cohen & Steers by 104.9% in the 3rd quarter. Signaturefd LLC now owns 418 shares of the asset manager’s stock worth $26,000 after purchasing an additional 214 shares during the period. State of Wyoming lifted its stake in shares of Cohen & Steers by 42.0% in the 2nd quarter. State of Wyoming now owns 828 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 245 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Cohen & Steers by 11.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,757 shares of the asset manager’s stock worth $176,000 after purchasing an additional 287 shares during the period. Finally, Citigroup Inc. increased its position in Cohen & Steers by 12.1% during the 1st quarter. Citigroup Inc. now owns 3,107 shares of the asset manager’s stock worth $199,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 51.47% 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.