Cohen & Steers (CNS - Free Report) has reported preliminary assets under management (AUM) of $62.9 billion as of May 31, 2019, down marginally from the prior-month level of $63.1 billion. Market appreciation of $264 million was more than offset by net outflows of $228 million and distributions of $207 million.
The company recorded total institutional accounts of $28.4 billion at the end of the month, down 1.4% on a sequential basis. Of the total institutional accounts, advisory accounts were $14 billion as of May 31, while the remaining were sub-advisory accounts.
Cohen & Steers recorded $25.2 billion in open-end funds, up 1.1% from the $24.9 billion recorded a month ago. Also, close-end funds came in at $9.3 billion, down marginally from April.
With operations spread across the globe, Cohen & Steers benefits largely from its well-diversified AUM. However, escalating expenses, mainly due to its continued expansion efforts, will keep hindering bottom-line growth.
Currently, Cohen & Steers carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of the company have jumped 48.6%, so far this year, outperforming the13.9% rally registered by the industry.
Performance and Upcoming Releases
Franklin Resources (BEN - Free Report) has announced preliminary AUM by its subsidiaries of $695 billion for May. Results displayed a 3.5% decline from the $720.5 billion recorded as of Apr 30, 2019. Net market declines and net outflows were the primary reasons for this downside.
Among other asset managers, AllianceBernstein Holding L.P. (AB - Free Report) and Invesco (IVZ - Free Report) are expected to report their May AUM figures in the next few days.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Cohen & Steers (CNS - Free Report) has reported preliminary assets under management (AUM) of $62.9 billion as of May 31, 2019, down marginally from the prior-month level of $63.1 billion. Market appreciation of $264 million was more than offset by net outflows of $228 million and distributions of $207 million.
The company recorded total institutional accounts of $28.4 billion at the end of the month, down 1.4% on a sequential basis. Of the total institutional accounts, advisory accounts were $14 billion as of May 31, while the remaining were sub-advisory accounts.
Cohen & Steers recorded $25.2 billion in open-end funds, up 1.1% from the $24.9 billion recorded a month ago. Also, close-end funds came in at $9.3 billion, down marginally from April.
With operations spread across the globe, Cohen & Steers benefits largely from its well-diversified AUM. However, escalating expenses, mainly due to its continued expansion efforts, will keep hindering bottom-line growth.
Currently, Cohen & Steers carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of the company have jumped 48.6%, so far this year, outperforming the13.9% rally registered by the industry.
Performance and Upcoming Releases
Franklin Resources (BEN - Free Report) has announced preliminary AUM by its subsidiaries of $695 billion for May. Results displayed a 3.5% decline from the $720.5 billion recorded as of Apr 30, 2019. Net market declines and net outflows were the primary reasons for this downside.
Among other asset managers, AllianceBernstein Holding L.P. (AB - Free Report) and Invesco (IVZ - Free Report) are expected to report their May AUM figures in the next few days.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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