Cohen & Steers (NYSE:CNS) Issues Earnings Results, Misses Expectations By $0.01 EPS

Cohen & Steers (NYSE:CNS) issued its quarterly earnings data on Wednesday. The asset manager reported $0.70 earnings per share 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 company had revenue of $122.71 million for the quarter, compared to the consensus estimate of $125.01 million. During the same period in the previous year, the business earned $0.76 EPS. Cohen & Steers’s revenue for the quarter was down 2.7% compared to the same quarter last year.

Cohen & Steers Stock Up 9.5 %

Shares of NYSE:CNS opened at $72.39 on Friday. 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 $3.59 billion, a price-to-earnings ratio of 28.17 and a beta of 1.45. The business has a 50-day moving average price of $72.53 and a 200-day moving average price of $66.54.

Cohen & Steers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.57. Cohen & Steers’s dividend payout ratio (DPR) is currently 91.83%.

Analyst Ratings Changes

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

Insider Transactions at Cohen & Steers

In other news, Director Richard P. Simon sold 3,058 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $71.81, for a total value 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 is available at the SEC website. In other news, Director Richard P. Simon sold 3,058 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $71.81, for a total value 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 is available at the SEC website. Also, Director Edmond D. Villani sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total value of $291,960.00. Following the completion of 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 raised its position in Cohen & Steers by 3.5% during the fourth quarter. Legal & General Group Plc now owns 29,057 shares of the asset manager’s stock valued at $2,200,000 after acquiring an additional 971 shares in the last quarter. Barclays PLC raised its position in Cohen & Steers by 188.5% during the fourth quarter. Barclays PLC now owns 47,936 shares of the asset manager’s stock valued at $3,631,000 after acquiring an additional 31,319 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Cohen & Steers by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,666,537 shares of the asset manager’s stock valued at $201,937,000 after acquiring an additional 31,525 shares in the last quarter. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

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.