Cohen & Steers (NYSE:CNS) Issues Quarterly Earnings Results

Cohen & Steers (NYSE:CNSGet Free Report) posted its quarterly earnings results on Wednesday. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01), Briefing.com reports. Cohen & Steers had a return on equity of 38.52% and a net margin of 26.36%. The firm had revenue of $122.71 million for the quarter, compared to the consensus estimate of $125.01 million. During the same period last year, the company posted $0.76 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year.

Cohen & Steers Price Performance

Shares of CNS opened at $66.85 on Thursday. The firm has a market capitalization of $3.31 billion, a PE ratio of 25.71 and a beta of 1.45. The company’s 50-day moving average is $72.54 and its 200-day moving average is $66.47. Cohen & Steers has a fifty-two week low of $50.05 and a fifty-two week high of $78.58.

Cohen & Steers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, March 4th were given a $0.59 dividend. The ex-dividend date was Friday, March 1st. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.57. This represents a $2.36 annualized dividend and a dividend yield of 3.53%. Cohen & Steers’s dividend payout ratio is presently 90.77%.

Insider Activity

In other news, Director Richard P. Simon sold 3,058 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the transaction, the director now directly owns 21,915 shares of the company’s stock, valued at $1,573,716.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Richard P. Simon sold 3,058 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the transaction, the director now directly owns 21,915 shares of the company’s stock, valued at $1,573,716.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edmond D. Villani sold 4,000 shares of the company’s stock in a transaction dated 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 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 over the last ninety days. 47.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cohen & Steers

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP grew its stake in shares of Cohen & Steers by 130.4% in the first quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 446 shares in the last quarter. State of Wyoming grew its stake in shares of Cohen & Steers by 42.0% in the second quarter. State of Wyoming now owns 828 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 245 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Cohen & Steers in the first quarter valued at about $89,000. Tower Research Capital LLC TRC grew its stake in shares of Cohen & Steers by 112.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,309 shares of the asset manager’s stock valued at $82,000 after acquiring an additional 692 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Cohen & Steers by 17.8% in the first quarter. Great West Life Assurance Co. Can now owns 2,461 shares of the asset manager’s stock valued at $222,000 after acquiring an additional 372 shares in the last quarter. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TheStreet raised shares of Cohen & Steers from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. UBS Group dropped their price objective on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research report on Friday, April 12th.

Check Out Our Latest Analysis on CNS

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.

See Also

Earnings History for Cohen & Steers (NYSE:CNS)

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