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

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

Cohen & Steers Stock Performance

Shares of CNS stock traded up $4.18 during mid-day trading on Thursday, reaching $105.35. 829,790 shares of the company's stock traded hands, compared to its average volume of 224,105. The firm has a market capitalization of $5.32 billion, a PE ratio of 40.99 and a beta of 1.54. Cohen & Steers has a 12 month low of $50.05 and a 12 month high of $110.67. The firm has a 50 day moving average price of $90.81 and a two-hundred day moving average price of $79.59.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Monday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.36 annualized dividend and a yield of 2.24%. Cohen & Steers's payout ratio is presently 91.83%.

Insider Buying and Selling

In other Cohen & Steers news, Director Richard P. Simon sold 7,000 shares of the company's stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $80.61, for a total value of $564,270.00. Following the completion of the sale, the director now owns 15,660 shares in the company, valued at $1,262,352.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Richard P. Simon sold 7,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $80.61, for a total value of $564,270.00. Following the completion of the sale, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the firm's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $86.45, for a total transaction of $95,095.00. Following the sale, the chief accounting officer now owns 20,091 shares in the company, valued at $1,736,866.95. The trade was a 0.00 % decrease in their ownership of the stock. 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 company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CNS shares. Evercore ISI increased their price target on Cohen & Steers from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, October 4th. UBS Group raised Cohen & Steers from a "sell" rating to a "neutral" rating and increased their target price for the company from $63.00 to $102.00 in a 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.