Cohen & Steers (CNS) Hits New 52-Week Low at $34.29

Shares of Cohen & Steers, Inc. (NYSE:CNS) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $34.29 and last traded at $35.34, with a volume of 7274 shares trading hands. The stock had previously closed at $35.59.

Several equities analysts have recently weighed in on CNS shares. Zacks Investment Research upgraded Cohen & Steers from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded Cohen & Steers from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Cohen & Steers has a consensus rating of “Hold” and an average target price of $44.50.

The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, October 17th. The asset manager reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $98.30 million during the quarter, compared to analysts’ expectations of $99.05 million. Cohen & Steers had a return on equity of 38.16% and a net margin of 28.13%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. On average, equities analysts anticipate that Cohen & Steers, Inc. will post 2.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 19th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Friday, November 16th. Cohen & Steers’s dividend payout ratio (DPR) is presently 63.77%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Cohen & Steers by 1.7% in the third quarter. Vanguard Group Inc. now owns 1,924,716 shares of the asset manager’s stock valued at $78,163,000 after purchasing an additional 32,938 shares in the last quarter. BlackRock Inc. grew its position in Cohen & Steers by 0.8% during the third quarter. BlackRock Inc. now owns 1,613,186 shares of the asset manager’s stock worth $65,511,000 after buying an additional 13,574 shares in the last quarter. Janus Henderson Group PLC grew its position in Cohen & Steers by 5.8% during the third quarter. Janus Henderson Group PLC now owns 1,438,130 shares of the asset manager’s stock worth $58,402,000 after buying an additional 78,322 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Cohen & Steers by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,032,814 shares of the asset manager’s stock worth $41,943,000 after buying an additional 29,456 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Cohen & Steers by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 838,831 shares of the asset manager’s stock worth $34,065,000 after buying an additional 39,903 shares in the last quarter. Institutional investors own 48.52% of the company’s stock.

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About Cohen & Steers (NYSE:CNS)

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.

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