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

Cohen & Steers (NYSE:CNS - Get Free Report) released its quarterly earnings data on Wednesday. The asset manager reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.01), Briefing.com reports. The company 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 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 firm posted $0.76 EPS.

Cohen & Steers Stock Down 1.1 %

NYSE:CNS traded down $0.76 on Thursday, reaching $66.11. The company's stock had a trading volume of 282,728 shares, compared to its average volume of 166,225. Cohen & Steers has a 12-month low of $50.05 and a 12-month high of $78.58. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 25.43 and a beta of 1.45. The stock has a 50 day moving average price of $72.48 and a 200 day moving average price of $66.46.

Cohen & Steers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.36 dividend on an annualized basis and a yield of 3.57%. This is an increase from Cohen & Steers's previous quarterly dividend of $0.57. Cohen & Steers's payout ratio is currently 90.77%.

Analyst Ratings Changes

A number of research firms have commented on CNS. UBS Group reduced their target price on Cohen & Steers from $69.00 to $67.00 and set a "sell" rating on the stock 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 Buying and Selling 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 stock was sold at an average price of $72.99, for a total value of $291,960.00. Following the sale, the director now owns 33,781 shares in the company, valued at approximately $2,465,675.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cohen & Steers news, Director Richard P. Simon sold 3,058 shares of the company'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 sale, the director now owns 21,915 shares in the company, valued at approximately $1,573,716.15. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $72.99, for a total value of $291,960.00. Following the sale, 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 14,000 shares of company stock worth $1,009,713 over the last quarter. 47.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cohen & Steers

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC acquired a new position in shares of Cohen & Steers during the 4th quarter worth about $213,000. IHT Wealth Management LLC acquired a new position in shares of Cohen & Steers during the 4th quarter worth about $204,000. CI Private Wealth LLC acquired a new position in shares of Cohen & Steers during the 4th quarter worth about $202,000. Citigroup Inc. boosted its position in shares of 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 in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Cohen & Steers by 25.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,090 shares of the asset manager's stock worth $196,000 after acquiring an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company's stock.

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.