Cohen & Steers (NYSE:CNS – Get Rating) posted its earnings results on Wednesday. The asset manager reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.02, MarketWatch Earnings reports. The business had revenue of $154.19 million for the quarter, compared to analysts’ expectations of $148.56 million. Cohen & Steers had a net margin of 36.21% and a return on equity of 84.70%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share.
Cohen & Steers stock traded up $1.25 during trading hours on Wednesday, hitting $86.66. 103,634 shares of the stock were exchanged, compared to its average volume of 101,360. The stock has a market capitalization of $4.22 billion, a P/E ratio of 20.15 and a beta of 1.33. Cohen & Steers has a 12 month low of $65.53 and a 12 month high of $101.22. The business’s 50-day moving average is $82.03 and its two-hundred day moving average is $87.22.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Shareholders of record on Monday, March 7th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.54%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, March 4th. Cohen & Steers’s dividend payout ratio is currently 51.16%.
In other Cohen & Steers news, Director Martin Cohen sold 120,000 shares of the company’s stock in a transaction dated Friday, January 28th. The shares were sold at an average price of $80.20, for a total transaction of $9,624,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 48.24% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CNS. Morgan Stanley lifted its position in shares of Cohen & Steers by 34.5% during the second quarter. Morgan Stanley now owns 74,845 shares of the asset manager’s stock worth $6,143,000 after purchasing an additional 19,190 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Cohen & Steers during the third quarter worth approximately $202,000. BNP Paribas Arbitrage SA lifted its position in shares of Cohen & Steers by 451.2% during the third quarter. BNP Paribas Arbitrage SA now owns 7,590 shares of the asset manager’s stock worth $636,000 after purchasing an additional 6,213 shares in the last quarter. Citigroup Inc. lifted its position in shares of Cohen & Steers by 57.0% during the fourth quarter. Citigroup Inc. now owns 9,261 shares of the asset manager’s stock worth $856,000 after purchasing an additional 3,362 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cohen & Steers by 89.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 112,481 shares of the asset manager’s stock worth $10,406,000 after purchasing an additional 53,030 shares in the last quarter. Institutional investors own 47.26% of the company’s stock.
About Cohen & Steers (Get Rating)
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.
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