Cohen & Steers (NYSE:CNS) Releases Earnings Results, Beats Expectations By $0.03 EPS

Cohen & Steers (NYSE:CNS) released its earnings results on Wednesday. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03, Briefing.com reports. The business had revenue of $133.20 million for the quarter, compared to analyst estimates of $124.18 million. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. Cohen & Steers’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share.

Cohen & Steers Stock Up 3.1 %

CNS opened at $101.23 on Thursday. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $102.19. The business has a 50 day moving average of $90.37 and a 200-day moving average of $79.41. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 39.39 and a beta of 1.54.

Cohen & Steers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Monday, August 12th. Cohen & Steers’s dividend payout ratio (DPR) is presently 91.83%.

Insider Buying and Selling

In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $86.45, for a total transaction of $95,095.00. Following the completion of the sale, the chief accounting officer now owns 20,091 shares of the company’s stock, valued at $1,736,866.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Jon Cheigh sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the transaction, the executive vice president now owns 155,311 shares of the company’s stock, valued at approximately $13,058,548.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elena Dulik sold 1,100 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $86.45, for a total value of $95,095.00. Following the transaction, the chief accounting officer now owns 20,091 shares in the company, valued at approximately $1,736,866.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,600 shares of company stock valued at $1,710,365. 47.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNS. Evercore ISI upped their price objective on Cohen & Steers from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. UBS Group upgraded shares of Cohen & Steers from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $102.00 in a report on Thursday.

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.