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

Cohen & Steers (NYSE:CNS) posted its earnings results on Thursday. The asset manager reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01), Briefing.com reports. The company had revenue of $122.71 million for the quarter, compared to the consensus estimate 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 quarter last year, the business earned $0.76 EPS.

Cohen & Steers Stock Performance

NYSE CNS opened at $72.39 on Friday. The stock has a fifty day moving average of $72.53 and a 200-day moving average of $66.54. The stock has a market capitalization of $3.59 billion, a P/E ratio of 28.17 and a beta of 1.45. Cohen & Steers has a 52 week low of $50.05 and a 52 week high of $78.58.

Cohen & Steers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, March 4th were paid a $0.59 dividend. This is a boost 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 dividend payout ratio (DPR) is 91.83%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CNS shares. UBS Group cut their price objective on Cohen & Steers from $69.00 to $67.00 and set a “sell” rating for the company in a research report on Friday, April 12th. TheStreet upgraded Cohen & Steers from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th.

Insider Activity

In related news, Director Edmond D. Villani sold 4,000 shares of Cohen & Steers stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $72.99, for a total transaction of $291,960.00. Following the completion of the sale, the director now directly owns 33,781 shares of the company’s stock, valued at $2,465,675.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cohen & Steers news, 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 $2,465,675.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard P. Simon sold 6,942 shares of the business’s stock in a transaction dated 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 directly owns 24,973 shares of the company’s stock, valued at $1,792,062.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,000 shares of company stock valued at $1,009,713. Company insiders own 47.60% of the company’s stock.

Institutional Trading of Cohen & Steers

A number of institutional investors have recently modified their holdings of the company. Morgan Stanley raised its holdings in 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 in the last quarter. Norges Bank acquired a new position in Cohen & Steers during the fourth quarter worth approximately $15,696,000. BlackRock Inc. grew its position in shares of Cohen & Steers by 10.7% in the second quarter. BlackRock Inc. now owns 2,010,333 shares of the asset manager’s stock valued at $116,579,000 after purchasing an additional 194,097 shares during the last quarter. Millennium Management LLC grew its position in shares of Cohen & Steers by 522.2% in the fourth quarter. Millennium Management LLC now owns 189,043 shares of the asset manager’s stock valued at $12,205,000 after purchasing an additional 158,658 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position 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 valued at $6,512,000 after purchasing an additional 87,900 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors.

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.