Cohen & Steers (NYSE:CNS) Shares Gap Down – Time to Sell?

Cohen & Steers Inc (NYSE:CNS)’s share price gapped down before the market opened on Monday . The stock had previously closed at $68.78, but opened at $65.93. Cohen & Steers shares last traded at $65.67, with a volume of 6,069 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI lifted their price objective on shares of Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Bank of America raised their target price on shares of Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cohen & Steers has a consensus rating of “Reduce” and a consensus price target of $72.50.

Cohen & Steers Stock Down 1.0%

The stock has a market cap of $3.33 billion, a P/E ratio of 21.90, a PEG ratio of 1.95 and a beta of 1.29. The business’s 50 day simple moving average is $64.03 and its two-hundred day simple moving average is $68.57.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Thursday, January 22nd. The asset manager reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $143.79 million during the quarter, compared to the consensus estimate of $144.30 million. Cohen & Steers had a net margin of 27.55% and a return on equity of 29.37%. Cohen & Steers’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were issued a $0.62 dividend. The ex-dividend date was Monday, November 10th. This represents a $2.48 annualized dividend and a yield of 3.8%. Cohen & Steers’s dividend payout ratio is presently 83.22%.

Insider Activity

In other Cohen & Steers news, Director Martin Cohen purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was acquired at an average price of $59.69 per share, for a total transaction of $2,984,500.00. Following the purchase, the director owned 899,205 shares of the company’s stock, valued at $53,673,546.45. This trade represents a 5.89% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 100,000 shares of company stock valued at $5,982,368. 47.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CNS. Geneos Wealth Management Inc. lifted its holdings in Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after purchasing an additional 297 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cohen & Steers by 459.2% in the fourth quarter. Farther Finance Advisors LLC now owns 699 shares of the asset manager’s stock worth $44,000 after buying an additional 574 shares in the last quarter. Tema Etfs LLC bought a new position in shares of Cohen & Steers in the fourth quarter valued at approximately $59,000. Covestor Ltd boosted its position in shares of Cohen & Steers by 17.3% in the third quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock valued at $126,000 after acquiring an additional 284 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in Cohen & Steers during the first quarter valued at approximately $172,000. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Company Profile

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).