Cohen & Steers (NYSE:CNS) Announces Earnings Results, Beats Expectations By $0.03 EPS

Cohen & Steers (NYSE:CNS) posted its quarterly earnings data on Wednesday. The asset manager reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03, Briefing.com reports. The business had revenue of $133.20 million for the quarter, compared to analysts’ expectations of $124.18 million. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share.

Cohen & Steers Trading Up 3.1 %

CNS stock opened at $101.23 on Thursday. The firm has a 50 day moving average of $90.37 and a 200-day moving average of $79.41. The firm has a market capitalization of $5.12 billion, a P/E ratio of 39.39 and a beta of 1.54. Cohen & Steers has a 12 month low of $50.05 and a 12 month high of $102.19.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Monday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, August 12th. Cohen & Steers’s dividend payout ratio is presently 91.83%.

Insider Buying and Selling

In other news, EVP Jon Cheigh sold 12,500 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $84.08, for a total value of $1,051,000.00. Following the transaction, the executive vice president now owns 155,311 shares of the company’s stock, valued at approximately $13,058,548.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Jon Cheigh sold 12,500 shares of Cohen & Steers stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $84.08, for a total transaction of $1,051,000.00. Following the completion of the sale, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard P. Simon sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $80.61, for a total transaction of $564,270.00. Following the completion of the transaction, the director now owns 15,660 shares in the company, valued at approximately $1,262,352.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,600 shares of company stock valued at $1,710,365. Company insiders own 47.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNS. Evercore ISI increased their price target on shares of Cohen & Steers from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group upgraded shares of Cohen & Steers from a “sell” rating to a “neutral” rating and raised their price target for the stock from $63.00 to $102.00 in a research note on Thursday.

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.