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

Cohen & Steers (NYSE:CNS) issued its quarterly earnings data on Thursday. 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. Cohen & Steers had a return on equity of 36.96% and a net margin of 26.27%. The business had revenue of $122.71 million during the quarter, compared to analyst estimates of $125.01 million. During the same quarter last year, the firm 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 %

CNS stock opened at $72.39 on Friday. The company’s 50-day moving average price is $72.53 and its two-hundred day moving average price is $66.54. The firm has a market cap of $3.59 billion, a P/E ratio of 28.17 and a beta of 1.45. Cohen & Steers has a 12 month low of $50.05 and a 12 month high of $78.58.

Cohen & Steers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.26%. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, March 1st. Cohen & Steers’s dividend payout ratio is presently 91.83%.

Insider Transactions at Cohen & Steers

In related news, 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 directly owns 33,781 shares of the company’s stock, valued at $2,465,675.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Richard P. Simon sold 6,942 shares of Cohen & Steers stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $71.76, for a total transaction of $498,157.92. Following the sale, the director now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edmond D. Villani sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total transaction of $291,960.00. Following the completion of the sale, the director now directly owns 33,781 shares in the company, valued at approximately $2,465,675.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,000 shares of company stock valued at $1,009,713. Company insiders own 47.60% of the company’s stock.

Institutional Trading of Cohen & Steers

Large investors have recently bought and sold shares of the business. State of Wyoming raised its holdings in shares of Cohen & Steers by 42.0% in the 2nd quarter. State of Wyoming now owns 828 shares of the asset manager’s stock worth $48,000 after acquiring an additional 245 shares during the last quarter. Quantbot Technologies LP grew its stake in Cohen & Steers by 130.4% in the 1st quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock valued at $67,000 after buying an additional 446 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Cohen & Steers by 112.2% in 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 in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Cohen & Steers during the first quarter valued at about $89,000. Finally, Advisors Asset Management Inc. increased its holdings in Cohen & Steers by 63.4% during the 4th quarter. Advisors Asset Management Inc. now owns 2,470 shares of the asset manager’s stock worth $159,000 after acquiring an additional 958 shares during the period. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CNS shares. UBS Group lowered their target price on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a report on Friday, April 12th. TheStreet upgraded Cohen & Steers from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th.

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.