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

Zacks Equity Research

Cohen & Steers 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 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 IVZ and Legg Mason LM are expected to report December AUM figures in the next few days.

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Invesco Ltd. (IVZ) : Free Stock Analysis Report
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