Cohen & Steers (NYSE:CNS) Price Target Raised to $111.00

Cohen & Steers (NYSE:CNS) had its target price increased by Evercore ISI from $110.00 to $111.00 in a report published on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager’s stock.

Separately, UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and lifted their target price for the company from $63.00 to $102.00 in a research note on Thursday, October 17th.

Cohen & Steers Price Performance

CNS opened at $103.88 on Thursday. The business’s 50-day moving average is $95.92 and its two-hundred day moving average is $82.99. Cohen & Steers has a 1 year low of $51.61 and a 1 year high of $110.67. The firm has a market capitalization of $5.25 billion, a PE ratio of 38.76 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Cohen & Steers had a return on equity of 34.43% and a net margin of 27.23%. The company had revenue of $133.20 million for the quarter, compared to analyst estimates of $124.18 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.36 annualized dividend and a dividend yield of 2.27%. Cohen & Steers’s dividend payout ratio (DPR) is currently 88.06%.

Hedge Funds Weigh In On Cohen & Steers

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Cohen & Steers by 115.1% during the 2nd quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 198 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Cohen & Steers during the third quarter valued at $31,000. Signaturefd LLC increased its position in shares of Cohen & Steers by 19.8% in the 3rd quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 107 shares during the period. Farther Finance Advisors LLC raised its stake in Cohen & Steers by 16.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock worth $79,000 after acquiring an additional 119 shares during the last quarter. Finally, KBC Group NV purchased a new position in Cohen & Steers in the 3rd quarter worth $106,000. 51.47% of the stock is owned by hedge funds and other institutional investors.

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.