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

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

Cohen & Steers Trading Down 1.1 %

Shares of Cohen & Steers stock opened at $66.85 on Thursday. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $78.58. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 25.71 and a beta of 1.45. The company’s 50-day moving average price is $72.54 and its 200-day moving average price is $66.47.

Cohen & Steers Increases Dividend

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

Insider Transactions at Cohen & Steers

In other news, Director Edmond D. Villani sold 4,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $72.99, for a total value of $291,960.00. Following the sale, 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 SEC, which is available at this link. In other news, Director Richard P. Simon sold 3,058 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $71.81, for a total value of $219,594.98. Following the sale, the director now directly owns 21,915 shares of the company’s stock, valued at $1,573,716.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edmond D. Villani sold 4,000 shares of the stock in a transaction dated 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 $2,465,675.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,000 shares of company stock valued at $1,009,713. 47.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cohen & Steers

A number of institutional investors and hedge funds have recently modified their holdings of CNS. Quantbot Technologies LP increased its position in shares of Cohen & Steers by 130.4% in the first quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock worth $67,000 after purchasing an additional 446 shares during the last quarter. State of Wyoming increased its position in shares of Cohen & Steers by 42.0% in the second quarter. State of Wyoming now owns 828 shares of the asset manager’s stock worth $48,000 after purchasing an additional 245 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Cohen & Steers in the first quarter worth approximately $89,000. Tower Research Capital LLC TRC increased 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 worth $82,000 after purchasing an additional 692 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Cohen & Steers by 17.8% in the first quarter. Great West Life Assurance Co. Can now owns 2,461 shares of the asset manager’s stock worth $222,000 after purchasing an additional 372 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group lowered their price objective on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a research note on Friday, April 12th. TheStreet upgraded Cohen & Steers from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th.

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.