Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $63.8 billion as of May 31, 2020, which increased 2.7% from the prior-month level. Market appreciation of $1.4 billion and net inflows of $428 million were partially offset by distributions of $199 million.
The company recorded total institutional accounts of $28 billion at the end of May, up 3.6% on a sequential basis. Of the total institutional accounts as of May 31, advisory accounts were $14.8 billion, while the rest were sub-advisory.
Cohen & Steers recorded $27.3 billion in open-end funds, up 1.7% from $26.8 billion a month ago. Also, close-end funds came in at $8.6 billion, which grew 2.7% from April 2020.
Cohen & Steers’ widespread product offerings, global reach and investment strategies continue to attract investors, in turn supporting revenue growth. However, mounting expenses will likely impede bottom-line growth to some extent.
Shares of the company have rallied 17.3% so far this year against 2% decline of the industry it belongs to.
Currently, Cohen & Steers sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Franklin Resources, Inc. (BEN - Free Report) , Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for May in the coming 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.
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Cohen & Steers (CNS - Free Report) reported preliminary assets under management (AUM) of $63.8 billion as of May 31, 2020, which increased 2.7% from the prior-month level. Market appreciation of $1.4 billion and net inflows of $428 million were partially offset by distributions of $199 million.
The company recorded total institutional accounts of $28 billion at the end of May, up 3.6% on a sequential basis. Of the total institutional accounts as of May 31, advisory accounts were $14.8 billion, while the rest were sub-advisory.
Cohen & Steers recorded $27.3 billion in open-end funds, up 1.7% from $26.8 billion a month ago. Also, close-end funds came in at $8.6 billion, which grew 2.7% from April 2020.
Cohen & Steers’ widespread product offerings, global reach and investment strategies continue to attract investors, in turn supporting revenue growth. However, mounting expenses will likely impede bottom-line growth to some extent.
Shares of the company have rallied 17.3% so far this year against 2% decline of the industry it belongs to.
Currently, Cohen & Steers sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Franklin Resources, Inc. (BEN - Free Report) , Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for May in the coming days.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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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