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

Cohen & Steers (NYSE:CNS) released its quarterly earnings results on Wednesday. The asset manager reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03, Briefing.com reports. Cohen & Steers had a return on equity of 34.08% and a net margin of 26.21%. The firm had revenue of $133.20 million during the quarter, compared to analyst estimates of $124.18 million. During the same period in the previous year, the company posted $0.70 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.

Cohen & Steers Trading Up 0.6 %

NYSE:CNS traded up $0.65 during trading hours on Friday, reaching $106.00. 140,037 shares of the company were exchanged, compared to its average volume of 223,689. The stock’s 50-day moving average is $90.81 and its 200-day moving average is $79.59. Cohen & Steers has a twelve month low of $50.05 and a twelve month high of $110.67. The firm has a market cap of $5.36 billion, a PE ratio of 40.99 and a beta of 1.54.

Cohen & Steers Announces Dividend

The firm also recently announced 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. The ex-dividend date was Monday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.23%. Cohen & Steers’s dividend payout ratio (DPR) is 91.83%.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, Director Richard P. Simon sold 7,000 shares of the 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 of the company’s stock, valued at $1,262,352.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cohen & Steers news, Director Richard P. Simon sold 7,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $80.61, for a total value of $564,270.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jon Cheigh sold 12,500 shares of Cohen & Steers stock in a transaction on 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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 20,600 shares of company stock valued at $1,710,365. 47.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI upped their price objective on shares of Cohen & Steers from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $102.00 in a research report 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.