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

Cohen & Steers (NYSE:CNS) issued its quarterly earnings results on Thursday. The asset manager reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01), Briefing.com reports. The business had revenue of $122.71 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS.

Cohen & Steers Stock Up 9.5 %

CNS stock opened at $72.39 on Friday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 28.17 and a beta of 1.45. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $78.58. The company’s fifty day simple moving average is $72.53 and its 200 day simple moving average is $66.54.

Cohen & Steers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were issued a $0.59 dividend. 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 payout ratio is presently 91.83%.

Insider Activity at Cohen & Steers

In related news, Director Edmond D. Villani sold 4,000 shares of the business’s stock in a transaction 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 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 is available through this link. In other news, Director Richard P. Simon sold 6,942 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $71.76, for a total transaction of $498,157.92. Following the transaction, the director now owns 24,973 shares in the company, valued at $1,792,062.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edmond D. Villani sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $72.99, for a total transaction of $291,960.00. Following the transaction, 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. Insiders have sold a total of 14,000 shares of company stock worth $1,009,713 over the last quarter. Company insiders own 47.60% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Several institutional investors have recently made changes to their positions in CNS. State of Wyoming increased its position in shares of Cohen & Steers by 42.0% during the second quarter. State of Wyoming now owns 828 shares of the asset manager’s stock worth $48,000 after acquiring an additional 245 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Cohen & Steers by 130.4% during the first quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock worth $67,000 after acquiring an additional 446 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Cohen & Steers by 112.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,309 shares of the asset manager’s stock worth $82,000 after acquiring an additional 692 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Cohen & Steers during the first quarter worth about $89,000. Finally, Advisors Asset Management Inc. increased its position in shares of Cohen & Steers by 63.4% during the fourth quarter. Advisors Asset Management Inc. now owns 2,470 shares of the asset manager’s stock worth $159,000 after acquiring an additional 958 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CNS. TheStreet upgraded shares of Cohen & Steers from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. UBS Group cut their price target 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.

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.