Cohen & Steers (NYSE:CNS) Announces Earnings Results

Cohen & Steers (NYSE:CNS) issued its quarterly earnings results on Wednesday. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01), Briefing.com reports. The business had revenue of $122.71 million for the quarter, compared to analysts’ expectations of $125.01 million. Cohen & Steers had a return on equity of 38.52% and a net margin of 26.36%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 EPS.

Cohen & Steers Stock Performance

NYSE:CNS opened at $66.85 on Thursday. Cohen & Steers has a one year low of $50.05 and a one year high of $78.58. The stock has a market cap of $3.31 billion, a PE ratio of 25.71 and a beta of 1.45. The stock has a 50 day moving average price of $72.54 and a 200 day moving average price of $66.47.

Cohen & Steers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, March 1st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.57. Cohen & Steers’s dividend payout ratio is presently 90.77%.

Insiders Place Their Bets

In other news, Director Edmond D. Villani sold 4,000 shares of the firm’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 transaction, the director now directly owns 33,781 shares in the company, valued at $2,465,675.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Edmond D. Villani sold 4,000 shares of Cohen & Steers stock in a transaction on 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 directly owns 33,781 shares in the company, valued at $2,465,675.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard P. Simon sold 6,942 shares of Cohen & Steers stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $71.76, for a total value of $498,157.92. Following the completion of the transaction, the director now owns 24,973 shares of the company’s stock, valued at $1,792,062.48. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $1,009,713 over the last quarter. 47.60% of the stock is owned by insiders.

Institutional Trading of Cohen & Steers

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its holdings in Cohen & Steers by 452.0% in the 4th quarter. Morgan Stanley now owns 642,755 shares of the asset manager’s stock valued at $41,496,000 after purchasing an additional 526,309 shares in the last quarter. Norges Bank acquired a new stake in shares of Cohen & Steers during the 4th quarter worth $15,696,000. BlackRock Inc. raised its position in shares of Cohen & Steers by 10.7% in the 2nd quarter. BlackRock Inc. now owns 2,010,333 shares of the asset manager’s stock worth $116,579,000 after buying an additional 194,097 shares during the period. Millennium Management LLC raised its position in shares of Cohen & Steers by 522.2% in the 4th quarter. Millennium Management LLC now owns 189,043 shares of the asset manager’s stock worth $12,205,000 after buying an additional 158,658 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Cohen & Steers by 605.7% in the 2nd quarter. Renaissance Technologies LLC now owns 102,412 shares of the asset manager’s stock worth $6,512,000 after buying an additional 87,900 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

Wall Street Analyst Weigh In

CNS has been the topic of a number of recent analyst reports. TheStreet upgraded 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 on the stock in a research report on Friday, April 12th.

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.