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

Cohen & Steers (NYSE:CNS) issued its earnings results 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. The business had revenue of $122.71 million for the quarter, compared to analysts’ expectations of $125.01 million. Cohen & Steers had a return on equity of 38.52% and a net margin of 26.36%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $0.76 earnings per share.

Cohen & Steers Trading Down 1.1 %

CNS stock opened at $66.85 on Thursday. The stock has a 50-day moving average price of $72.54 and a two-hundred day moving average price of $66.47. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $78.58. The company has a market cap of $3.31 billion, a PE ratio of 25.71 and a beta of 1.45.

Cohen & Steers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.53%. 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. Cohen & Steers’s payout ratio is 90.77%.

Insider Buying and Selling at Cohen & Steers

In other Cohen & Steers news, Director Richard P. Simon sold 3,058 shares of the business’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 completion of the sale, the director now owns 21,915 shares of the company’s stock, valued at $1,573,716.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Edmond D. Villani sold 4,000 shares of Cohen & Steers stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $72.99, for a total transaction of $291,960.00. Following the sale, the director now owns 33,781 shares in the company, valued at $2,465,675.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard P. Simon sold 3,058 shares of the company’s 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 owns 21,915 shares of the company’s stock, valued at $1,573,716.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,000 shares of company stock valued at $1,009,713. Company insiders own 47.60% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

A number of institutional investors have recently added to or reduced their stakes in CNS. Morgan Stanley increased its position in shares of Cohen & Steers by 452.0% during the fourth quarter. Morgan Stanley now owns 642,755 shares of the asset manager’s stock worth $41,496,000 after acquiring an additional 526,309 shares during the last quarter. Norges Bank acquired a new position in shares of Cohen & Steers in the 4th quarter valued at approximately $15,696,000. BlackRock Inc. boosted its stake in shares of Cohen & Steers by 10.7% during the 2nd quarter. BlackRock Inc. now owns 2,010,333 shares of the asset manager’s stock valued at $116,579,000 after buying an additional 194,097 shares during the last quarter. Millennium Management LLC grew its position in shares of Cohen & Steers by 522.2% during the fourth quarter. Millennium Management LLC now owns 189,043 shares of the asset manager’s stock worth $12,205,000 after buying an additional 158,658 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Cohen & Steers by 605.7% in the second quarter. Renaissance Technologies LLC now owns 102,412 shares of the asset manager’s stock worth $6,512,000 after buying an additional 87,900 shares during the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CNS shares. UBS Group cut their target price 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.