Cohen & Steers, Inc. (NYSE:CNS) Sees Significant Decrease in Short Interest

Cohen & Steers, Inc. (NYSE:CNS) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 2,110,000 shares, a decrease of 8.3% from the August 31st total of 2,300,000 shares. Approximately 7.8% of the shares of the company are sold short. Based on an average daily trading volume, of 185,800 shares, the short-interest ratio is currently 11.4 days.

Analysts Set New Price Targets

Several research firms recently weighed in on CNS. Evercore ISI raised their price objective on Cohen & Steers from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. UBS Group dropped their price target on Cohen & Steers from $65.00 to $63.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th.

Cohen & Steers Stock Down 2.6 %

Shares of CNS traded down $2.46 during mid-day trading on Tuesday, reaching $93.49. 143,739 shares of the company’s stock were exchanged, compared to its average volume of 221,668. Cohen & Steers has a 52-week low of $50.05 and a 52-week high of $97.57. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 36.38 and a beta of 1.54. The company has a 50-day simple moving average of $88.06 and a two-hundred day simple moving average of $77.91.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Wednesday, July 17th. The asset manager reported $0.68 earnings per share for the quarter. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The company had revenue of $121.70 million during the quarter, compared to the consensus estimate of $121.48 million. During the same quarter last year, the business posted $0.70 earnings per share. Cohen & Steers’s revenue was up .9% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 2.52%. Cohen & Steers’s dividend payout ratio (DPR) is 91.83%.

Insider Transactions at Cohen & Steers

In related news, Director Richard P. Simon sold 7,000 shares of Cohen & Steers stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $80.61, for a total value of $564,270.00. Following the sale, the director now directly owns 15,660 shares in the company, valued at $1,262,352.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Richard P. Simon sold 7,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $80.61, for a total value of $564,270.00. Following the completion of the transaction, the director now owns 15,660 shares in the company, valued at approximately $1,262,352.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jon Cheigh sold 12,500 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $84.08, for a total transaction of $1,051,000.00. Following the sale, the executive vice president now directly owns 155,311 shares in the company, valued at approximately $13,058,548.88. The disclosure for this sale can be found here. In the last three months, insiders sold 20,600 shares of company stock valued at $1,710,365. Corporate insiders own 47.60% of the company’s stock.

Institutional Investors Weigh In On Cohen & Steers

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Cohen & Steers by 115.1% in the second quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock valued at $27,000 after buying an additional 198 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Cohen & Steers in the 4th quarter worth approximately $84,000. Meeder Asset Management Inc. acquired a new position in Cohen & Steers in the 2nd quarter valued at $161,000. Central Pacific Bank Trust Division purchased a new position in shares of Cohen & Steers during the 1st quarter worth $224,000. Finally, AQR Capital Management LLC lifted its stake in shares of Cohen & Steers by 5.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,274 shares of the asset manager’s stock worth $238,000 after purchasing an additional 172 shares during the period. 51.47% of the stock is owned by institutional investors and hedge funds.

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.