Cohen & Steers Inc. (NYSE:CNS) stock has reached a new 52-week high, trading at $87.96, signaling a strong performance period for the asset management firm. This peak comes amidst a notable 40% increase in the stock's value over the past year, reflecting investor confidence and a robust growth trajectory for the company. The achievement of this 52-week high represents a significant milestone for Cohen & Steers, as it continues to expand its portfolio and strengthen its market position.
In other recent news, Cohen & Steers, a leading investment management firm, reported Q2 2024 earnings per share of $0.68 and revenue of $122 million, a slight decrease attributed to underperformance in equity-oriented asset classes and a minor dip in assets under management. The firm also announced a quarterly cash dividend of $0.59 per share. Cohen & Steers recently appointed Lisa Dolly to its Board of Directors, a move expected to enhance the Board's depth of knowledge and expertise. Dolly's background includes significant leadership roles at Pershing LLC, a subsidiary of The Bank of New York Mellon (NYSE:BK) Corporation.
In addition, several Wall Street firms, including TD Securities, BNY Mellon, and Truist, have agreed to pay a collective sum exceeding $470 million in settlements with U.S. regulators to address violations of recordkeeping rules. Cohen & Steers also announced key leadership changes, with Raja Dakkuri assuming the role of CFO and Dan Noonan appointed as Head of Wealth Distribution.
The firm has unveiled growth initiatives such as the Future of Energy Fund and plans to launch active ETFs. These recent developments are part of Cohen & Steers' ongoing efforts to adapt to market shifts and deliver value to its shareholders.
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