Cohen & Steers, Inc. (NYSE:CNS) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Monday, May 13th will be given a dividend of 0.36 per share by the asset manager on Thursday, May 23rd. This represents a $1.44 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, May 10th.
Cohen & Steers has increased its dividend payment by an average of 9.7% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Cohen & Steers has a dividend payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Cohen & Steers to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.4%.
Shares of CNS stock traded down $1.18 on Friday, hitting $51.22. 356,600 shares of the stock traded hands, compared to its average volume of 157,067. The firm has a market cap of $2.44 billion, a P/E ratio of 21.34, a P/E/G ratio of 3.10 and a beta of 1.12. The company has a current ratio of 6.62, a quick ratio of 6.62 and a debt-to-equity ratio of 0.22. Cohen & Steers has a 1-year low of $32.95 and a 1-year high of $52.45.
In other news, EVP Michele Nolty sold 4,220 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $48.61, for a total transaction of $205,134.20. Following the transaction, the executive vice president now owns 17,693 shares of the company’s stock, valued at approximately $860,056.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew S. Stadler sold 50,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $51.29, for a total value of $2,564,500.00. Following the transaction, the chief financial officer now directly owns 168,227 shares in the company, valued at approximately $8,628,362.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,028 shares of company stock worth $3,671,585. 50.63% of the stock is currently owned by insiders.
CNS has been the subject of several research analyst reports. Bank of America set a $37.00 price objective on Cohen & Steers and gave the stock a “sell” rating in a research note on Tuesday, April 9th. Zacks Investment Research raised Cohen & Steers from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods lowered Cohen & Steers from a “market perform” rating to an “underperform” rating and set a $36.00 target price on the stock. in a research report on Wednesday, February 20th. ValuEngine raised Cohen & Steers from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Gabelli lowered Cohen & Steers from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Cohen & Steers currently has an average rating of “Hold” and an average price target of $41.50.
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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.
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