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

Cohen & Steers, Inc. (NYSE:CNS) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.59 per share by the asset manager on Thursday, May 23rd. This represents a $2.36 annualized dividend and a yield of 3.30%. The ex-dividend date is Friday, May 10th.

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

Cohen & Steers Trading Up 0.6 %

NYSE CNS opened at $71.50 on Thursday. Cohen & Steers has a 1 year low of $50.05 and a 1 year high of $78.58. The company has a fifty day simple moving average of $72.32 and a 200 day simple moving average of $67.81. The company has a market cap of $3.61 billion, a P/E ratio of 27.82 and a beta of 1.45.

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

Insider Buying and Selling

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

Analyst Ratings Changes

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

About Cohen & Steers

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.