Cohen & Steers (CNS) December AUM Up On Market Appreciation

Cohen & Steers (NYSE:CNS) reported preliminary assets under management (AUM) of $72.2 billion as of Dec 31, 2019, up 1.4% from the prior-month level. Net inflows of $639 million and market appreciation of $818 million were partly offset by distributions of $443 million.

The company recorded total institutional accounts of $31.8 billion at the end of the month, up 1.2% on a sequential basis. Of the total institutional accounts, advisory accounts were $15.7 billion as of Dec 31 and the remaining were subadvisory accounts.

Cohen & Steers recorded $30.7 billion in open-end funds, up 1.8% from a month ago. Also, closed-end funds were $9.6 billion, up marginally on a sequential basis.

With operations across the globe, Cohen & Steers benefits largely from its well diversified AUM. However, escalating expenses, mainly due to its continued expansion efforts are expected to keep hindering bottom-line growth. Moreover, the company's high dependence on advisory revenues is a key near-term concern.

Shares of the company have gained 21.2% over the past six months, outperforming the 3% growth of the industry.




Currently, Cohen & Steers carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance and Upcoming Releases

Franklin Resources (NYSE:BEN) announced preliminary AUM by its subsidiaries of $698.3 billion for December 2019. Results displayed a 1% increase from $691.3 billion recorded as of Nov 30, 2019. Net outflows were more than offset by market gains.

Invesco (NYSE:IVZ) and Legg Mason (NYSE:LM) are expected to report December AUM figures in the next few days.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Invesco Ltd. (IVZ): Free Stock Analysis Report

Legg Mason, Inc. (LM): Free Stock Analysis Report

Cohen & Steers Inc (CNS): Free Stock Analysis Report

Franklin Resources, Inc. (BEN): Free Stock Analysis Report

Original post

Zacks Investment Research