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

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

Cohen & Steers Price Performance

NYSE CNS traded up $6.28 during trading hours on Friday, reaching $72.39. 2,006,063 shares of the stock traded hands, compared to its average volume of 190,404. The stock has a 50 day simple moving average of $72.48 and a two-hundred day simple moving average of $66.46. Cohen & Steers has a 1 year low of $50.05 and a 1 year high of $78.58. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 27.69 and a beta of 1.45.

Cohen & Steers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were paid a dividend of $0.59 per share. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, March 1st. This represents a $2.36 annualized dividend and a yield of 3.26%. Cohen & Steers’s dividend payout ratio (DPR) is currently 90.77%.

Insider Buying and Selling at Cohen & Steers

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 stock was sold at an average price of $71.81, for a total transaction of $219,594.98. Following the sale, the director now owns 21,915 shares in the company, valued at $1,573,716.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edmond D. Villani sold 4,000 shares of Cohen & Steers stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total value of $291,960.00. Following the transaction, the director now 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 can be accessed through this link. Also, Director Richard P. Simon sold 3,058 shares of Cohen & Steers stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $71.81, for a total value of $219,594.98. Following the completion of the transaction, the director now owns 21,915 shares in the company, valued at approximately $1,573,716.15. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $1,009,713 over the last 90 days. Corporate insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State of Wyoming grew its stake 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. Quantbot Technologies LP grew its stake 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. Tower Research Capital LLC TRC grew its stake 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. Acadian Asset Management LLC bought a new stake in shares of Cohen & Steers in the first quarter worth about $89,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Cohen & Steers by 63.4% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CNS. UBS Group dropped their price objective on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a research note on Friday, April 12th. TheStreet raised 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.