Cohen & Steers, Inc. (CNS - Free Report) reported preliminary assets under management (AUM) of $80.4 billion as of Jun 30, 2023, which reflects an increase of 3.3% from the prior-month level. Market appreciation of $2.9 billion and net inflows of $36 million supported the rise, while it was partially offset by the distributions of $391 million.
Cohen & Steers recorded total institutional accounts of $33.3 billion at the end of June 2023, rising 3.7% from the May-end level. Of the total institutional accounts, advisory accounts were $18.8 billion, while the rest were sub-advisory.
Closed-end funds were $10.9 billion, increasing 2.6% from the May 2023 level. Also, the company recorded $36.2 billion in open-end funds, marking a 3.1% increase from the prior month.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue aiding 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 three months, shares of Cohen & Steers have lost 5.1% against the 5.7% growth recorded by the industry.
Among other asset managers, Virtus Investment Partners (VRTS - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for June in the coming days.
While Virtus Investment Partners carries a Zacks Rank #2 (Buy), Lazard carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Cohen & Steers, Inc. (CNS - Free Report) reported preliminary assets under management (AUM) of $80.4 billion as of Jun 30, 2023, which reflects an increase of 3.3% from the prior-month level. Market appreciation of $2.9 billion and net inflows of $36 million supported the rise, while it was partially offset by the distributions of $391 million.
Cohen & Steers recorded total institutional accounts of $33.3 billion at the end of June 2023, rising 3.7% from the May-end level. Of the total institutional accounts, advisory accounts were $18.8 billion, while the rest were sub-advisory.
Closed-end funds were $10.9 billion, increasing 2.6% from the May 2023 level. Also, the company recorded $36.2 billion in open-end funds, marking a 3.1% increase from the prior month.
Cohen & Steers’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue aiding 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 three months, shares of Cohen & Steers have lost 5.1% against the 5.7% growth recorded by the industry.
Among other asset managers, Virtus Investment Partners (VRTS - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for June in the coming days.
While Virtus Investment Partners carries a Zacks Rank #2 (Buy), Lazard carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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