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

Cohen & Steers (NYSE:CNS) issued its quarterly earnings results on Wednesday. The asset manager reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01), Briefing.com reports. The company had revenue of $122.71 million during the quarter, compared to analysts’ expectations of $125.01 million. Cohen & Steers had a return on equity of 36.96% and a net margin of 26.27%. Cohen & Steers’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share.

Cohen & Steers Stock Up 9.5 %

NYSE CNS opened at $72.39 on Friday. Cohen & Steers has a 52 week low of $50.05 and a 52 week high of $78.58. The firm’s 50-day simple moving average is $72.53 and its two-hundred day simple moving average is $66.54. The company has a market cap of $3.59 billion, a PE ratio of 28.17 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. Shareholders of record on Monday, March 4th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.57. This represents a $2.36 annualized dividend and a yield of 3.26%. Cohen & Steers’s dividend payout ratio is 91.83%.

Wall Street Analyst Weigh In

Several research firms have commented on CNS. TheStreet raised shares of Cohen & Steers from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. UBS Group dropped their price objective on shares of Cohen & Steers from $69.00 to $67.00 and set a “sell” rating on the stock in a report on Friday, April 12th.

Insiders Place Their Bets

In other Cohen & Steers news, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 approximately $1,792,062.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cohen & Steers news, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 approximately $1,792,062.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edmond D. Villani sold 4,000 shares of the business’s 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 completion of the transaction, the director now directly owns 33,781 shares of the company’s stock, valued at approximately $2,465,675.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,000 shares of company stock valued at $1,009,713. 47.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Cohen & Steers

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of Cohen & Steers by 2.9% during the 4th 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 last quarter. Townsquare Capital LLC increased its position in shares of Cohen & Steers by 26.8% during the 4th 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 last quarter. Legal & General Group Plc increased its position in shares of Cohen & Steers by 3.5% during the 4th 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 last quarter. Barclays PLC increased its position in shares of Cohen & Steers by 188.5% during the 4th 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 last quarter. Finally, Vanguard Group Inc. increased its position in shares of Cohen & Steers by 1.2% during the 4th 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 last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

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.