Cohen & Steers (NYSE:CNS) Announces Earnings Results

Cohen & Steers (NYSE:CNS) posted its quarterly earnings data on Wednesday. The asset manager reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01), Briefing.com reports. Cohen & Steers had a net margin of 26.27% and a return on equity of 36.96%. The firm had revenue of $122.71 million for the quarter, compared to analysts’ expectations of $125.01 million. During the same period in the prior year, the company posted $0.76 earnings per share. Cohen & Steers’s quarterly revenue was down 2.7% compared to the same quarter last year.

Cohen & Steers Price Performance

NYSE CNS opened at $72.39 on Friday. The company has a 50 day simple moving average of $72.53 and a 200-day simple moving average of $66.54. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 28.17 and a beta of 1.45. Cohen & Steers has a 52-week low of $50.05 and a 52-week high of $78.58.

Cohen & Steers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, March 4th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, March 1st. Cohen & Steers’s dividend payout ratio is 91.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CNS. UBS Group reduced their price target on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a research report on Friday, April 12th. TheStreet raised shares of Cohen & Steers from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th.

Insider Transactions at Cohen & Steers

In related news, Director Richard P. Simon sold 3,058 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $71.81, for a total transaction of $219,594.98. Following the transaction, the director now 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 SEC, which is available through this hyperlink. In related news, Director Richard P. Simon sold 6,942 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $71.76, for a total transaction of $498,157.92. Following the transaction, the director now owns 24,973 shares of the company’s stock, valued at $1,792,062.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard P. Simon sold 3,058 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $71.81, for a total transaction of $219,594.98. Following the transaction, the director now directly owns 21,915 shares in the company, valued at approximately $1,573,716.15. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $1,009,713 over the last three months. 47.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cohen & Steers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming grew its holdings in Cohen & Steers by 42.0% during the second quarter. State of Wyoming now owns 828 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 245 shares during the last quarter. Quantbot Technologies LP grew its holdings in Cohen & Steers by 130.4% during the first quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 446 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Cohen & Steers by 112.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,309 shares of the asset manager’s stock valued at $82,000 after purchasing an additional 692 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Cohen & Steers during the first quarter valued at approximately $89,000. Finally, Advisors Asset Management Inc. grew its holdings in Cohen & Steers by 63.4% during the fourth quarter. Advisors Asset Management Inc. now owns 2,470 shares of the asset manager’s stock valued at $159,000 after purchasing an additional 958 shares during the last quarter. Institutional investors own 51.47% of the company’s stock.

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.