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

Cohen & Steers (NYSE:CNS) released its quarterly earnings data 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. Cohen & Steers had a net margin of 26.27% and a return on equity of 36.96%. 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 prior year, the business posted $0.76 earnings per share. Cohen & Steers’s revenue for the quarter was down 2.7% on a year-over-year basis.

Cohen & Steers Trading Up 9.5 %

Shares of NYSE:CNS traded up $6.28 on Friday, hitting $72.39. 2,006,063 shares of the company were exchanged, compared to its average volume of 190,404. Cohen & Steers has a 1-year low of $50.05 and a 1-year high of $78.58. The stock’s 50 day moving average price is $72.48 and its 200 day moving average price is $66.46. The firm has a market capitalization of $3.59 billion, a P/E ratio of 27.69 and a beta of 1.45.

Cohen & Steers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, March 4th were paid a dividend of $0.59 per share. This is an increase 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 90.77%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CNS. UBS Group lowered 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 note on Friday, April 12th. TheStreet upgraded shares of Cohen & Steers from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th.

Insider Transactions at Cohen & Steers

In related news, Director Richard P. Simon sold 6,942 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $71.76, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cohen & Steers news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard P. Simon sold 3,058 shares of Cohen & Steers stock in a transaction on Monday, February 26th. The shares were sold at an average price of $71.81, for a total transaction of $219,594.98. Following the completion of the transaction, the director now directly owns 21,915 shares of the company’s stock, valued at approximately $1,573,716.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,000 shares of company stock worth $1,009,713. Company insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Cohen & Steers by 2.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,279 shares of the asset manager’s stock valued at $1,158,000 after purchasing an additional 431 shares during the period. Townsquare Capital LLC grew its position in shares of Cohen & Steers by 26.8% in the fourth quarter. Townsquare Capital LLC now owns 16,012 shares of the asset manager’s stock valued at $1,213,000 after purchasing an additional 3,384 shares during the period. Legal & General Group Plc grew its position in shares of Cohen & Steers by 3.5% in the fourth quarter. Legal & General Group Plc now owns 29,057 shares of the asset manager’s stock valued at $2,200,000 after purchasing an additional 971 shares during the period. Barclays PLC grew its position in shares of Cohen & Steers by 188.5% in the fourth quarter. Barclays PLC now owns 47,936 shares of the asset manager’s stock valued at $3,631,000 after purchasing an additional 31,319 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Cohen & Steers by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,666,537 shares of the asset manager’s stock valued at $201,937,000 after purchasing an additional 31,525 shares during the period. 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.