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Cohen & Steers' (CNS) February AUM Improves on Upbeat Market
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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
The company recorded total institutional accounts of $34.9 billion at the end of February, up 3.3% from the January-end level. Of the total institutional accounts, advisory accounts were $19.1 billion, while the rest were sub-advisory.
Cohen & Steers recorded $36.7 billion in open-end funds, up 2.1% from a month ago. Closed-end funds were $11.5 billion, up marginally from January 2021.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are likely to continue supporting its financials. Its solid AUM balance is likely to keep aiding the top line. However, elevated expenses are expected to impede bottom-line growth to some extent.
Over the past six months, shares of the company have rallied 15.1%, underperforming 32.6% growth recorded by the industry it belongs to.
Among other asset managers, Franklin Resources (BEN - Free Report) , Invesco (IVZ - Free Report) and T. Rowe Price (TROW - Free Report) are likely to release preliminary AUM results for February in the coming days.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Cohen & Steers' (CNS) February AUM Improves on Upbeat Market
Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
The company recorded total institutional accounts of $34.9 billion at the end of February, up 3.3% from the January-end level. Of the total institutional accounts, advisory accounts were $19.1 billion, while the rest were sub-advisory.
Cohen & Steers recorded $36.7 billion in open-end funds, up 2.1% from a month ago. Closed-end funds were $11.5 billion, up marginally from January 2021.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are likely to continue supporting its financials. Its solid AUM balance is likely to keep aiding the top line. However, elevated expenses are expected to impede bottom-line growth to some extent.
Over the past six months, shares of the company have rallied 15.1%, underperforming 32.6% growth recorded by the industry it belongs to.
Currently, Cohen & Steers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other asset managers, Franklin Resources (BEN - Free Report) , Invesco (IVZ - Free Report) and T. Rowe Price (TROW - Free Report) are likely to release preliminary AUM results for February in the coming days.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>