Vanguard Group Inc. boosted its stake in Cowen Group, Inc. (NASDAQ:COWN) by 11.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,134,627 shares of the financial services provider’s stock after buying an additional 118,888 shares during the period. Vanguard Group Inc. owned about 4.18% of Cowen Group worth $16,963,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Cowen Group by 4.9% in the first quarter. Wells Fargo & Company MN now owns 486,205 shares of the financial services provider’s stock valued at $7,270,000 after buying an additional 22,771 shares during the period. American International Group Inc. boosted its position in Cowen Group by 7.2% in the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock valued at $235,000 after buying an additional 1,051 shares during the period. Parametric Portfolio Associates LLC boosted its position in Cowen Group by 91.7% in the first quarter. Parametric Portfolio Associates LLC now owns 82,095 shares of the financial services provider’s stock valued at $1,227,000 after buying an additional 39,267 shares during the period. Fisher Asset Management LLC boosted its position in Cowen Group by 81.5% in the first quarter. Fisher Asset Management LLC now owns 163,094 shares of the financial services provider’s stock valued at $2,438,000 after buying an additional 73,218 shares during the period. Finally, Croft Leominster Inc. purchased a new position in Cowen Group during the first quarter valued at approximately $374,000. Institutional investors own 81.32% of the company’s stock.
Shares of Cowen Group, Inc. (NASDAQ COWN) traded up 0.94% on Friday, hitting $16.10. 109,636 shares of the stock traded hands. Cowen Group, Inc. has a 12-month low of $2.90 and a 12-month high of $16.95. The firm’s market cap is $497.20 million. The firm’s 50-day moving average is $16.22 and its 200 day moving average is $15.15.
Cowen Group (NASDAQ:COWN) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.12. Cowen Group had a return on equity of 1.92% and a net margin of 1.00%. The company had revenue of $171.90 million during the quarter, compared to analyst estimates of $169.54 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 113.8% compared to the same quarter last year. Equities research analysts forecast that Cowen Group, Inc. will post $1.65 EPS for the current fiscal year.
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Several research analysts have commented on COWN shares. BidaskClub cut shares of Cowen Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Instinet reiterated a “neutral” rating and set a $18.00 price target (up previously from $17.00) on shares of Cowen Group in a report on Friday, August 11th. Finally, Nomura boosted their price target on shares of Cowen Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th.
In related news, major shareholder Peter A. Cohen sold 194,349 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $0.39, for a total value of $75,796.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Peter A. Cohen sold 100,000 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $0.31, for a total value of $31,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,049,914 shares of company stock valued at $300,237. Corporate insiders own 4.90% of the company’s stock.
About Cowen Group
Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.
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