Cohen & Steers, Inc. (NYSE:CNS) to Issue Quarterly Dividend of $0.59

Cohen & Steers, Inc. (NYSE:CNS) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.59 per share by the asset manager on Thursday, May 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, May 10th.

Cohen & Steers has raised its dividend payment by an average of 13.5% annually over the last three years and has increased its dividend every year for the last 15 years. Cohen & Steers has a dividend payout ratio of 74.0% indicating that its dividend is sufficiently covered by earnings.

Cohen & Steers Price Performance

Shares of Cohen & Steers stock opened at $70.62 on Friday. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 27.48 and a beta of 1.45. Cohen & Steers has a 52-week low of $50.05 and a 52-week high of $78.58. The stock has a 50-day simple moving average of $72.36 and a 200-day simple moving average of $67.35.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). Cohen & Steers had a return on equity of 36.96% and a net margin of 26.27%. The company had revenue of $122.71 million during the quarter, compared to analyst estimates of $125.01 million. During the same quarter last year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year.

Analyst Ratings Changes

Separately, UBS Group dropped their target price on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a report on Friday, April 12th.

Insider Buying and Selling at Cohen & Steers

In related news, Director Edmond D. Villani sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $72.99, for a total transaction of $291,960.00. Following the completion of the transaction, the director now directly owns 33,781 shares in the company, valued at approximately $2,465,675.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Richard P. Simon sold 3,058 shares of Cohen & Steers stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the completion of the transaction, the director now owns 21,915 shares in the company, valued at $1,573,716.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edmond D. Villani sold 4,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total value of $291,960.00. Following the sale, the director now owns 33,781 shares in the company, valued at $2,465,675.19. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $1,009,713 in the last 90 days. 47.60% of the stock is currently owned by insiders.

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.