We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cohen & Steers' (CNS) February AUM Up on Favorable Markets
Read MoreHide Full Article
Cohen & Steers, Inc. (CNS - Free Report) reported preliminary assets under management (AUM) of $79.6 billion as of Feb 29, 2024. This reflected a marginal rise of 0.4% from the prior month's level.
The increase was driven by a market appreciation of $1.2 billion, partly offset by a net outflow of $683 million and distributions of $155 million.
Cohen & Steers recorded total institutional accounts of $31.5 billion at the end of February 2024, falling 1.5% from the January 2024-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.
Closed-end funds were $11 billion, up almost 1% from the January 2024-end level. Further, Open-end funds were $37.1 billion, which grew 2% from the prior month.
CNS’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue supporting the top line. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.
Over the past six months, shares of Cohen & Steers have gained 18.9%, underperforming the industry’s growth of 22.5%.
Image Source: Zacks Investment Research
Competitive Landscape
Franklin Resources, Inc. (BEN - Free Report) reports preliminary month-end AUM of $1.62 trillion as of Feb 29, 2024. This reflected an increase of 1.3% from the prior month's level.
The increase in BEN’s AUM balance was driven by favorable market returns and long-term net inflows. This was partially offset by a fixed-income institutional client redemption of $2.0 billion. The stock currently has a Zacks Rank of 3 (Hold).
Invesco (IVZ - Free Report) announced a preliminary AUM of $1,630.9 billion for February 2024, reflecting 3% growth from the previous month-end.
IVZ delivered net long-term inflows of $1.8 billion in February. Non-management fee-earning net inflows were $1.9 billion and money market net inflows were $3.5 billion. IVZ’s AUM was positively impacted by favorable market returns, which raised AUM by $42 billion. FX affected AUM by $2.6 billion. Invesco also has a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Cohen & Steers' (CNS) February AUM Up on Favorable Markets
Cohen & Steers, Inc. (CNS - Free Report) reported preliminary assets under management (AUM) of $79.6 billion as of Feb 29, 2024. This reflected a marginal rise of 0.4% from the prior month's level.
The increase was driven by a market appreciation of $1.2 billion, partly offset by a net outflow of $683 million and distributions of $155 million.
Cohen & Steers recorded total institutional accounts of $31.5 billion at the end of February 2024, falling 1.5% from the January 2024-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.
Closed-end funds were $11 billion, up almost 1% from the January 2024-end level. Further, Open-end funds were $37.1 billion, which grew 2% from the prior month.
CNS’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue supporting the top line. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.
Over the past six months, shares of Cohen & Steers have gained 18.9%, underperforming the industry’s growth of 22.5%.
Image Source: Zacks Investment Research
Competitive Landscape
Franklin Resources, Inc. (BEN - Free Report) reports preliminary month-end AUM of $1.62 trillion as of Feb 29, 2024. This reflected an increase of 1.3% from the prior month's level.
The increase in BEN’s AUM balance was driven by favorable market returns and long-term net inflows. This was partially offset by a fixed-income institutional client redemption of $2.0 billion. The stock currently has a Zacks Rank of 3 (Hold).
Invesco (IVZ - Free Report) announced a preliminary AUM of $1,630.9 billion for February 2024, reflecting 3% growth from the previous month-end.
IVZ delivered net long-term inflows of $1.8 billion in February. Non-management fee-earning net inflows were $1.9 billion and money market net inflows were $3.5 billion. IVZ’s AUM was positively impacted by favorable market returns, which raised AUM by $42 billion. FX affected AUM by $2.6 billion. Invesco also has a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.