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

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

Cohen & Steers Stock Down 1.1 %

Shares of NYSE:CNS opened at $66.85 on Thursday. Cohen & Steers has a 52-week low of $50.05 and a 52-week high of $78.58. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 25.71 and a beta of 1.45. The business has a 50-day moving average price of $72.54 and a 200-day moving average price of $66.47.

Cohen & Steers Increases Dividend

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

Insider Transactions at Cohen & Steers

In related news, Director Richard P. Simon sold 3,058 shares of Cohen & Steers stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $71.81, for a total transaction of $219,594.98. Following the completion of the transaction, the director now directly owns 21,915 shares in the company, valued at $1,573,716.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Richard P. Simon sold 3,058 shares of Cohen & Steers stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $71.81, for a total transaction of $219,594.98. Following the completion of the transaction, the director now directly owns 21,915 shares in the company, valued at $1,573,716.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edmond D. Villani sold 4,000 shares of Cohen & Steers stock in a transaction that occurred 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 transaction, the director now owns 33,781 shares of the company’s stock, valued at $2,465,675.19. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $1,009,713 over the last three months. 47.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Cohen & Steers by 2.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,279 shares of the asset manager’s stock valued at $1,158,000 after acquiring an additional 431 shares in the last quarter. Townsquare Capital LLC raised its position in Cohen & Steers by 26.8% during the fourth quarter. Townsquare Capital LLC now owns 16,012 shares of the asset manager’s stock valued at $1,213,000 after acquiring an additional 3,384 shares in the last quarter. Legal & General Group Plc grew its holdings in Cohen & Steers by 3.5% in the fourth quarter. Legal & General Group Plc now owns 29,057 shares of the asset manager’s stock valued at $2,200,000 after purchasing an additional 971 shares during the period. Barclays PLC grew its holdings in Cohen & Steers by 188.5% in the fourth quarter. Barclays PLC now owns 47,936 shares of the asset manager’s stock valued at $3,631,000 after purchasing an additional 31,319 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Cohen & Steers by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,666,537 shares of the asset manager’s stock valued at $201,937,000 after purchasing an additional 31,525 shares during the period. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNS has been the subject of several research analyst reports. UBS Group reduced their price objective on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a research note on Friday, April 12th. TheStreet upgraded Cohen & Steers from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th.

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.