Charles Daniel P, Executive Vice President at Cohen & Steers, Inc. (NYSE:CNS), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Daniel sold a total of 6,868 shares of Cohen & Steers common stock on December 2, 2024, at prices ranging from $103.73 to $104.18 per share. The transactions amounted to a total value of approximately $712,462.
Following these sales, Daniel retains direct ownership of 46,243 shares in the company. Additionally, he acquired 203 shares through dividend equivalent restricted stock units, which were granted in connection with the issuer's fourth-quarter dividend. These shares were accrued to Daniel on unvested restricted stock units from previous years.
Investors may take note of these transactions as they reflect changes in the executive's holdings in the investment management company.
In other recent news, Cohen & Steers disclosed a preliminary figure for its assets under management (AUM) as of October 2024, amounting to $89.7 billion, marking a decrease from the previous $91.8 billion. The company also announced Q3 earnings growth with earnings per share rising to $0.77 from $0.68, and revenues increasing to $133 million from $122 million, marking the first positive net inflows since Q1 2022.
Cohen & Steers also reported the appointment of Karen Wilson Thissen to its Board of Directors. The company declared a Q4 cash dividend of $0.59 per share, payable to stockholders of record as of November 18, 2024.
These recent developments suggest Cohen & Steers is navigating industry shifts and leveraging its expertise in real assets and alternative income. The company expects stable compensation ratios and a 6-7% increase in G&A expenses for the year, along with $1 billion in redemptions, split between two quarters. Despite challenges, including outflows in Japan sub-advisory, the firm remains focused on its strategic development.
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