In a statement that was disseminated to investors on Saturday, the analysts at StockNews.com moved their rating for Cohen & Steers (NYSE: CNS) from “buy” to “hold,” thereby lowering their recommendation for the company’s stock.
On October 19, the public was given access to the quarterly earnings report that Cohen & Steers (NYSE: CNS) had prepared and submitted. During the preceding period, the asset management company generated a profit of $0.92 per share. Cohen & Steers had a return on equity of 73.433 percent, while their net margin was 33.77 percent. Despite predictions made by analysts that the company would bring in $139.54 million during the quarter, the actual amount of revenue brought in by the company was only $139.95 million. Compared to the previous year’s results for the same period, the company posted a profit of $1.06 per share. The company’s quarterly sales were 9.2% lower when compared to the results it had achieved during the same period the year before.
Recent months have seen several institutional investors, including hedge funds and other types of investment vehicles, adjust the overall number of shares held in their investment portfolios. Walleye Capital LLC increased its total holdings in Cohen & Steers by purchasing additional shares during the second quarter and investing approximately $359,000 more. During the second quarter, Versor Investments LP made a new investment in Cohen & Steers. The total value of this investment was approximately $909,000. During the second quarter, the investment company Scout Investments Inc. increased the percentage of its holdings in Cohen & Steers by 10.5% from the previous quarter’s level. After making additional purchases totaling 15,275 shares over the most recent quarter, Scout Investments Inc. is now the proud owner of 161,100 shares of the asset manager’s stock. At this time, the value of the stock is determined to be $10,244,000. Principal Financial Group Inc. increased the amount of Cohen & Steers stock owned by 6.7% during the first three months of 2018. After purchasing 285 shares of the asset manager’s stock over the past three months, Principal Financial Group Inc. has a total of 4,517 shares of the company’s stock in its possession. The current value of all their assets comes to a total of $388,000. Lastly, but certainly not least, during the second quarter, Winslow Asset Management Inc. increased the proportion of Cohen & Steers securities it held by 0.7%. This is not to say that this is the most important thing during this period. Winslow Asset Management Inc. now has 108,602 asset manager’s stock shares after purchasing an additional 737 shares during the most recent quarter. The stock is currently valued at $6,906,000. Most of the company’s stock is owned by institutional investors and hedge funds, which account for 47.37 percent of the total.
On Friday, shares of NYSE: CNS began trading at $63.18 each when the market opened. The company’s 50-day moving average is currently at $63.15, and its 200-day moving average is currently at $67.26, respectively. The company’s market value is calculated to be $3.08 billion, based on the price-to-earnings ratio of the company’s stock, which is 15.37, and the beta value, which is 1.30. Over the past year and a half, the price of a share of Cohen & Steers common stock has ranged from a low of $52.34 to a high of $94.40.
A publicly traded asset management holding company such as Cohen & Steers, Inc. is a good example of this type of business. The company’s subsidiary companies can provide services to many different kinds of institutional investors, such as endowments, foundations, and pension funds, amongst others. Thanks to its subsidiaries, it can provide clients with stock portfolio management, fixed-income portfolio management, multi-asset portfolio management, and commodity portfolio management.