Copeland Capital Management LLC Cuts Stock Holdings in Cohen & Steers Inc $CNS

Key Points

• Copeland Capital Management reduced its stake in Cohen & Steers by 7.1%, selling 61,913 shares and leaving it with 804,732 shares worth about $50.52M (1.58% ownership).
• EVP Francis C. Poli sold 10,000 shares at an average price of $65.73 (a 15.23% cut to his position), and insiders now own 45.40% of the company's stock.
• Cohen & Steers slightly missed quarterly EPS ($0.79 vs. $0.82) but grew revenue 8.3% year-over-year and raised its quarterly dividend to $0.67 (annualized $2.68) for a 4.0% yield with an 88.45% payout ratio.

Copeland Capital Management LLC decreased its position in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 804,732 shares of the asset manager's stock after selling 61,913 shares during the quarter. Copeland Capital Management LLC owned 1.58% of Cohen & Steers worth $50,521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Wasatch Advisors LP grew its holdings in shares of Cohen & Steers by 15.1% during the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager's stock valued at $185,790,000 after buying an additional 323,759 shares during the last quarter. State Street Corp grew its holdings in shares of Cohen & Steers by 0.8% during the second quarter. State Street Corp now owns 1,116,966 shares of the asset manager's stock valued at $84,163,000 after buying an additional 9,099 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cohen & Steers by 2.0% during the second quarter. Invesco Ltd. now owns 462,982 shares of the asset manager's stock valued at $34,886,000 after buying an additional 9,131 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Cohen & Steers by 1.9% during the second quarter. Raymond James Financial Inc. now owns 435,122 shares of the asset manager's stock valued at $32,786,000 after buying an additional 8,007 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Cohen & Steers by 0.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 328,040 shares of the asset manager's stock valued at $21,523,000 after buying an additional 3,060 shares during the last quarter. Hedge funds and other institutional investors own 51.47% of the company's stock.

Insider Activity

In other news, EVP Francis C. Poli sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $65.73, for a total transaction of $657,300.00. Following the sale, the executive vice president owned 55,675 shares of the company's stock, valued at $3,659,517.75. This trade represents a 15.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 45.40% of the stock is currently owned by insiders.

Cohen & Steers Stock Down 1.5%

Shares of NYSE CNS opened at $67.27 on Friday. The firm's 50-day moving average price is $64.84 and its 200-day moving average price is $65.15. The company has a market cap of $3.46 billion, a PE ratio of 22.20, a PEG ratio of 1.78 and a beta of 1.26. Cohen & Steers Inc has a 52-week low of $58.39 and a 52-week high of $83.99.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.03). The company had revenue of $144.26 million for the quarter, compared to analysts' expectations of $140.62 million. Cohen & Steers had a net margin of 27.47% and a return on equity of 28.21%. The business's revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. As a group, equities research analysts anticipate that Cohen & Steers Inc will post 3.38 EPS for the current fiscal year.

Cohen & Steers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, March 9th. This is a boost from Cohen & Steers's previous quarterly dividend of $0.62. Cohen & Steers's payout ratio is 88.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Cohen & Steers from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Zacks Research raised shares of Cohen & Steers from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Finally, Evercore set a $76.00 price target on shares of Cohen & Steers in a report on Monday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $72.00.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.