Cohen & Steers (CNS - Free Report) has reported preliminary assets under management (AUM) of $62.4 billion as of Jun 30, 2019, down nearly 1% from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million, a conversion of $753 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $867 million.
The company recorded total institutional accounts of $27.3 billion at the end of the month, down 4.1% on a sequential basis. This substantial decrease was mainly due to net outflows and the above-mentioned conversion. Of the total institutional accounts, advisory accounts were $14.1 billion as of Jun 30, while the remaining were sub-advisory accounts.
Cohen & Steers recorded $25.7 billion in open-end funds, up 2% from the $25.2 billion recorded a month ago. Also, close-end funds came in at $9.4 billion, up 1.9% from May 2019.
With operations 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 sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of the company have surged 55% so far this year, outperforming the 20% rally registered by the industry.
Performance and Upcoming Release
Franklin Resources (BEN - Free Report) has announced preliminary AUM by its subsidiaries of $715.2 billion for June 2019. Results display a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows led to this upside. However, the figure edged down 1.2% year over year.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,197.8 billion for June 2019 increased 3.3% from the prior month. This growth was primarily driven by favorable market returns, foreign exchange, non-management fee earning AUM inflows, and reinvested distributions, partly offset by net long-term outflows and lower money market AUM.
Among other asset managers, AllianceBernstein Holding L.P. (AB - Free Report) is expected to report June AUM figures in the next few days.
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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.
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Cohen & Steers (CNS - Free Report) has reported preliminary assets under management (AUM) of $62.4 billion as of Jun 30, 2019, down nearly 1% from the prior-month level of $62.9 billion. Market appreciation of $1.3 billion was more than offset by net outflows of $215 million, a conversion of $753 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $867 million.
The company recorded total institutional accounts of $27.3 billion at the end of the month, down 4.1% on a sequential basis. This substantial decrease was mainly due to net outflows and the above-mentioned conversion. Of the total institutional accounts, advisory accounts were $14.1 billion as of Jun 30, while the remaining were sub-advisory accounts.
Cohen & Steers recorded $25.7 billion in open-end funds, up 2% from the $25.2 billion recorded a month ago. Also, close-end funds came in at $9.4 billion, up 1.9% from May 2019.
With operations 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 sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of the company have surged 55% so far this year, outperforming the 20% rally registered by the industry.
Performance and Upcoming Release
Franklin Resources (BEN - Free Report) has announced preliminary AUM by its subsidiaries of $715.2 billion for June 2019. Results display a 2.9% increase from the $695 billion recorded as of May 31, 2019. Strong market gains, partly offset by modest net outflows led to this upside. However, the figure edged down 1.2% year over year.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,197.8 billion for June 2019 increased 3.3% from the prior month. This growth was primarily driven by favorable market returns, foreign exchange, non-management fee earning AUM inflows, and reinvested distributions, partly offset by net long-term outflows and lower money market AUM.
Among other asset managers, AllianceBernstein Holding L.P. (AB - Free Report) is expected to report June AUM figures in the next few days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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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