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

Cohen & Steers (NYSE:CNS) announced its quarterly earnings data 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. The firm had revenue of $122.71 million during the quarter, compared to analyst estimates of $125.01 million. Cohen & Steers had a return on equity of 36.96% and a net margin of 26.27%. Cohen & Steers’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 business earned $0.76 earnings per share.

Cohen & Steers Stock Performance

Shares of CNS opened at $72.39 on Friday. The stock has a 50 day simple moving average of $72.53 and a 200 day simple moving average of $66.54. Cohen & Steers has a 52-week low of $50.05 and a 52-week high of $78.58. The firm has a market capitalization of $3.59 billion, a PE ratio of 28.17 and a beta of 1.45.

Cohen & Steers Increases Dividend

The business also recently announced 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. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.57. This represents a $2.36 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, March 1st. Cohen & Steers’s payout ratio is presently 91.83%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Cohen & Steers

In other Cohen & Steers news, Director Richard P. Simon sold 3,058 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $71.81, for a total value of $219,594.98. Following the sale, the director now owns 21,915 shares in the company, valued at approximately $1,573,716.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cohen & Steers news, Director Richard P. Simon sold 3,058 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $71.81, for a total value of $219,594.98. Following the sale, the director now owns 21,915 shares in the company, valued at approximately $1,573,716.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edmond D. Villani sold 4,000 shares of the business’s 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 completion of the sale, the director now 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 three months, insiders sold 14,000 shares of company stock worth $1,009,713. 47.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cohen & Steers

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming raised its stake in shares of Cohen & Steers by 42.0% during the 2nd quarter. State of Wyoming now owns 828 shares of the asset manager’s stock worth $48,000 after purchasing an additional 245 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Cohen & Steers by 130.4% during the 1st quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock worth $67,000 after purchasing an additional 446 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Cohen & Steers by 112.2% during the 3rd 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 in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Cohen & Steers during the 1st quarter worth approximately $89,000. Finally, Advisors Asset Management Inc. raised its stake in shares of 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 purchasing an additional 958 shares in the last quarter. 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.