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FHI - Cohen & Steers: Valuations Are Still Too Rich
Federated Hermes Inc.
Cohen & Steers' AUM was $79.9 billion as of end-4Q 2020, which represented YoY and QoQ growth rates of +11% and +13%, respectively.
The company is expected to deliver positive earnings growth in FY 2021, but future dividends could potentially be lower as it allocates more excess capital to reinvestment opportunities.
The market values Cohen & Steers at 19.8 times consensus forward FY 2021 P/E, and it also offers a consensus forward FY 2021 dividend yield of 3.7%.