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

Cohen & Steers (NYSE:CNS) posted its quarterly earnings results on Wednesday. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01), Briefing.com reports. The business had revenue of $122.71 million during 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%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS.

Cohen & Steers Trading Up 9.2 %

NYSE CNS traded up $6.10 on Friday, hitting $72.21. 1,009,575 shares of the company were exchanged, compared to its average volume of 176,278. Cohen & Steers has a 1-year low of $50.05 and a 1-year high of $78.58. The firm has a 50 day moving average of $72.48 and a two-hundred day moving average of $66.46. The company has a market cap of $3.58 billion, a P/E ratio of 27.81 and a beta of 1.45.

Cohen & Steers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, March 1st. Cohen & Steers’s payout ratio is currently 90.77%.

Insider Buying and Selling at Cohen & Steers

In other news, Director Richard P. Simon sold 6,942 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly 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. In other 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 value 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 approximately $2,465,675.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard P. Simon sold 6,942 shares of the company’s 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 transaction, the director now directly owns 24,973 shares in the company, valued at approximately $1,792,062.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,000 shares of company stock worth $1,009,713. 47.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cohen & Steers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its position in shares of Cohen & Steers by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 13,334 shares of the asset manager’s stock worth $861,000 after buying an additional 198 shares during the period. State of Wyoming boosted its stake in Cohen & Steers by 42.0% in the second quarter. State of Wyoming now owns 828 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 245 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Cohen & Steers by 11.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,757 shares of the asset manager’s stock worth $176,000 after acquiring an additional 287 shares during the period. Citigroup Inc. grew its holdings in Cohen & Steers by 12.1% during the 1st quarter. Citigroup Inc. now owns 3,107 shares of the asset manager’s stock worth $199,000 after acquiring an additional 335 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Cohen & Steers by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,160 shares of the asset manager’s stock valued at $647,000 after acquiring an additional 338 shares during the last quarter. 51.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNS has been the subject of a number of recent research reports. TheStreet raised Cohen & Steers from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. 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 report on Friday, April 12th.

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.