Cohen & Steers Inc $CNS Stake Lessened by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its Cohen & Steers stake by 2.8% in the third quarter, selling 21,490 shares and retaining 747,258 shares worth approximately $54.6 million. Institutional investors collectively own 51.47% of the company.
• Cohen & Steers shares opened at $68.91, below their 50-day average of $77.60, while the company reported quarterly revenue growth of 12.2% year over year despite narrowly missing EPS estimates.
• The company pays a quarterly dividend of $0.67 per share, representing a 3.9% yield, and analysts maintain a “Moderate Buy” consensus with an $88 average price target.

Copeland Capital Management LLC lessened its holdings in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 747,258 shares of the asset manager's stock after selling 21,490 shares during the quarter. Copeland Capital Management LLC owned about 1.45% of Cohen & Steers worth $54,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNS. Moody National Bank Trust Division lifted its holdings in Cohen & Steers by 8.1% in the 3rd quarter. Moody National Bank Trust Division now owns 18,938 shares of the asset manager's stock worth $1,385,000 after purchasing an additional 1,417 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Cohen & Steers by 4.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,695 shares of the asset manager's stock worth $586,000 after acquiring an additional 358 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Cohen & Steers during the second quarter worth $209,000. Integrated Wealth Concepts LLC purchased a new position in Cohen & Steers during the second quarter valued at $195,000. Finally, IFP Advisors Inc grew its stake in Cohen & Steers by 196.7% during the second quarter. IFP Advisors Inc now owns 804 shares of the asset manager's stock valued at $61,000 after acquiring an additional 533 shares in the last quarter. Institutional investors own 51.47% of the company's stock.

Cohen & Steers Trading Down 0.1%

Shares of CNS opened at $68.91 on Wednesday. The company's fifty day simple moving average is $77.60 and its 200-day simple moving average is $74.57. The company has a market cap of $3.54 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.69 and a beta of 1.22. Cohen & Steers Inc has a twelve month low of $58.39 and a twelve month high of $86.56.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The business had revenue of $151.84 million for the quarter, compared to analysts' expectations of $149.45 million. During the same quarter in the previous year, the firm earned $0.73 EPS. Cohen & Steers's revenue was up 12.2% compared to the same quarter last year. Analysts predict that Cohen & Steers Inc will post 3.53 earnings per share for the current fiscal year.

Cohen & Steers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, August 10th. Cohen & Steers's dividend payout ratio (DPR) is currently 82.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore reiterated an "outperform" rating and issued a $88.00 target price on shares of Cohen & Steers in a research report on Monday, August 10th. Weiss Ratings upgraded Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Insider Buying and Selling

In related news, CAO Elena Dulik sold 1,100 shares of Cohen & Steers stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the sale, the chief accounting officer owned 22,146 shares in the company, valued at $1,841,661.36. This trade represents a 4.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 45.40% of the stock is owned by corporate insiders.

Cohen & Steers Profile

Cohen & Steers, Inc is a global investment management company specializing in listed real assets and alternative income. The firm manages portfolios focused on areas such as real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented investments.

Its investment solutions are offered through mutual funds, exchange-traded funds, closed-end funds, institutional accounts and separately managed accounts. Cohen & Steers serves a range of clients, including institutional investors, financial advisers and individual investors, with strategies covering markets in the United States and internationally.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and maintains an international presence to support its global investment activities.

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