Cohen & Steers (NYSE:CNS) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Cohen & Steers (NYSE:CNSGet Free Report) announced its earnings results on Wednesday. The asset manager reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03, Briefing.com reports. The firm had revenue of $119.19 million for the quarter, compared to analysts’ expectations of $122.80 million. Cohen & Steers had a return on equity of 39.29% and a net margin of 26.36%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 earnings per share.

Cohen & Steers Price Performance

NYSE:CNS traded up $0.50 during trading hours on Friday, reaching $70.78. The company’s stock had a trading volume of 55,707 shares, compared to its average volume of 238,676. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 27.17 and a beta of 1.46. Cohen & Steers has a one year low of $50.05 and a one year high of $78.87. The business’s 50-day moving average is $67.21 and its 200-day moving average is $62.94.

Cohen & Steers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Monday, November 13th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Friday, November 10th. Cohen & Steers’s dividend payout ratio is presently 87.69%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNS. UBS Group began coverage on shares of Cohen & Steers in a research note on Friday, January 5th. They set a “sell” rating and a $68.00 target price on the stock. StockNews.com initiated coverage on shares of Cohen & Steers in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, TheStreet upgraded shares of Cohen & Steers from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th.

View Our Latest Analysis on Cohen & Steers

Insider Buying and Selling

In related news, CAO Elena Dulik sold 725 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $62.28, for a total value of $45,153.00. Following the completion of the sale, the chief accounting officer now directly owns 19,862 shares in the company, valued at $1,237,005.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 47.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cohen & Steers

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Cohen & Steers by 64.8% during the third quarter. American Century Companies Inc. now owns 33,496 shares of the asset manager’s stock valued at $2,100,000 after purchasing an additional 13,174 shares during the last quarter. Deutsche Bank AG boosted its stake in Cohen & Steers by 13.3% in the third quarter. Deutsche Bank AG now owns 14,015 shares of the asset manager’s stock valued at $879,000 after acquiring an additional 1,641 shares during the last quarter. Creative Planning bought a new position in Cohen & Steers in the third quarter valued at approximately $289,000. Townsquare Capital LLC boosted its stake in Cohen & Steers by 38.3% in the third quarter. Townsquare Capital LLC now owns 12,628 shares of the asset manager’s stock valued at $792,000 after acquiring an additional 3,499 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Cohen & Steers by 28.8% in the third quarter. The Manufacturers Life Insurance Company now owns 14,369 shares of the asset manager’s stock valued at $901,000 after acquiring an additional 3,209 shares during the last quarter. 51.47% of the stock is owned by institutional investors.

About Cohen & Steers

(Get Free Report)

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.

Further Reading

Earnings History for Cohen & Steers (NYSE:CNS)

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