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

Cohen & Steers (NYSE:CNS) had its price objective hoisted by Evercore ISI from $110.00 to $111.00 in a research note published on Thursday morning,Benzinga reports. The brokerage 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 upped their price objective for the stock from $63.00 to $102.00 in a research report on Thursday, October 17th.

Cohen & Steers Price Performance

Shares of Cohen & Steers stock opened at $103.88 on Thursday. The stock has a market cap of $5.25 billion, a PE ratio of 38.76 and a beta of 1.53. The firm has a fifty day moving average price of $95.92 and a 200 day moving average price of $82.99. Cohen & Steers has a 1 year low of $51.61 and a 1 year high of $110.67.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data 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 business had revenue of $133.20 million during the quarter, compared to analysts’ expectations of $124.18 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis.

Cohen & Steers Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of Cohen & Steers in the third quarter worth about $629,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cohen & Steers in the third quarter worth about $5,025,000. Mendel Capital Management LLC raised its position in shares of Cohen & Steers by 3.3% in the third quarter. Mendel Capital Management LLC now owns 4,495 shares of the asset manager’s stock worth $431,000 after acquiring an additional 145 shares during the period. Royce & Associates LP acquired a new position in shares of Cohen & Steers in the third quarter worth about $868,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Cohen & Steers in the third quarter worth about $243,000. 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.