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Cohen & Steers, Inc. CNS reported preliminary assets under management (AUM) of $79.6 billion as of Feb 29, 2024. This reflected a marginal rise of 0.4% from the prior month's level.

The increase was driven by a market appreciation of $1.2 billion, partly offset by a net outflow of $683 million and distributions of $155 million.

Cohen & Steers recorded total institutional accounts of $31.5 billion at the end of February 2024, falling 1.5% from the January 2024-end level. Of the total institutional accounts, advisory accounts were $17.3 billion, while the rest were sub-advisory.

Closed-end funds were $11 billion, up almost 1% from the January 2024-end level. Further, Open-end funds were $37.1 billion, which grew 2% from the prior month.

CNS’ diverse product offerings, global reach and investment strategies are expected to support its financials. A solid AUM balance is likely to continue supporting the top line. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.

Over the past six months, shares of Cohen & Steers have gained 18.9%, underperforming the industry’s growth of 22.5%.

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Competitive Landscape

Franklin Resources, Inc. BEN reports preliminary month-end AUM of $1.62 trillion as of Feb 29, 2024. This reflected an increase of 1.3% from the prior month's level.

The increase in BEN’s AUM balance was driven by favorable market returns and long-term net inflows. This was partially offset by a fixed-income institutional client redemption of $2.0 billion. The stock currently has a Zacks Rank of 3 (Hold).

Invesco IVZ announced a preliminary AUM of $1,630.9 billion for February 2024, reflecting 3% growth from the previous month-end.

IVZ delivered net long-term inflows of $1.8 billion in February. Non-management fee-earning net inflows were $1.9 billion and money market net inflows were $3.5 billion. IVZ’s AUM was positively impacted by favorable market returns, which raised AUM by $42 billion. FX affected AUM by $2.6 billion. Invesco also has a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

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