Cohen & Steers (NYSE:CNS) Releases Earnings Results

Cohen & Steers (NYSE:CNS) posted its quarterly earnings results on Thursday. 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. The firm had revenue of $122.71 million during the quarter, compared to the consensus estimate of $125.01 million. Cohen & Steers had a return on equity of 36.96% and a net margin of 26.27%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share.

Cohen & Steers Trading Up 9.5 %

Shares of CNS opened at $72.39 on Friday. Cohen & Steers has a twelve month low of $50.05 and a twelve month high of $78.58. The company has a market cap of $3.59 billion, a P/E ratio of 28.17 and a beta of 1.45. The company’s fifty day simple moving average is $72.53 and its 200-day simple moving average is $66.54.

Cohen & Steers Increases Dividend

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

Analysts Set New Price Targets

CNS has been the subject of a number of research reports. TheStreet upgraded shares of Cohen & Steers from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. UBS Group dropped their target price 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.

Insider Activity

In related news, Director Richard P. Simon sold 6,942 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $71.76, for a total value of $498,157.92. Following the transaction, the director now owns 24,973 shares of the company’s stock, valued at approximately $1,792,062.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cohen & Steers news, Director Richard P. Simon sold 3,058 shares of the firm’s stock in a transaction dated 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 approximately $1,573,716.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard P. Simon sold 6,942 shares of the firm’s stock in a transaction dated 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 directly owns 24,973 shares in the company, valued at approximately $1,792,062.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,000 shares of company stock valued at $1,009,713. 47.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new stake in shares of Cohen & Steers in the 4th quarter valued at about $213,000. IHT Wealth Management LLC bought a new stake in shares of Cohen & Steers in the 4th quarter valued at about $204,000. CI Private Wealth LLC bought a new stake in shares of Cohen & Steers in the 4th quarter valued at about $202,000. Citigroup Inc. boosted its holdings in shares of Cohen & Steers by 12.1% in the 1st quarter. Citigroup Inc. now owns 3,107 shares of the asset manager’s stock valued at $199,000 after buying an additional 335 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Cohen & Steers by 25.3% in the 2nd quarter. Captrust Financial Advisors now owns 3,090 shares of the asset manager’s stock valued at $196,000 after buying an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

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.