Cohen & Steers (NYSE:CNS) Posts Quarterly Earnings Results, Meets Expectations

Cohen & Steers (NYSE:CNS) released its earnings results on Thursday. The asset manager reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89, FiscalAI reports. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%. The business had revenue of $156.41 million during the quarter, compared to analysts’ expectations of $155.12 million.

Cohen & Steers Stock Up 4.8%

NYSE:CNS traded up $3.17 on Thursday, hitting $69.56. The stock had a trading volume of 580,731 shares, compared to its average volume of 313,748. Cohen & Steers has a 52 week low of $58.39 and a 52 week high of $86.56. The business’s fifty day moving average is $77.24 and its 200 day moving average is $74.60. The company has a market cap of $3.58 billion, a PE ratio of 21.34, a P/E/G ratio of 1.69 and a beta of 1.22.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were issued a $0.67 dividend. The ex-dividend date was Monday, August 10th. This represents a $2.68 annualized dividend and a yield of 3.9%. Cohen & Steers’s dividend payout ratio is presently 82.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CNS shares. Evercore reissued an “outperform” rating and issued a $88.00 price target on shares of Cohen & Steers in a research note on Monday, August 10th. Weiss Ratings upgraded Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Insider Buying and Selling at Cohen & Steers

In other news, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the transaction, the chief accounting officer directly owned 22,146 shares of the company’s stock, valued at $1,841,661.36. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 45.40% of the stock is owned by insiders.

About Cohen & Steers

Cohen & Steers, Inc is a global investment management company specializing in listed real assets and alternative income. The firm manages portfolios focused on areas such as real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented investments.

Its investment solutions are offered through mutual funds, exchange-traded funds, closed-end funds, institutional accounts and separately managed accounts. Cohen & Steers serves a range of clients, including institutional investors, financial advisers and individual investors, with strategies covering markets in the United States and internationally.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and maintains an international presence to support its global investment activities.