Cowen Group, Inc. (COWN) Stake Held by Conning Inc.
Conning Inc. held its position in Cowen Group, Inc. (NASDAQ:COWN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,547 shares of the financial services provider’s stock at the end of the second quarter. Conning Inc. owned about 0.59% of Cowen Group worth $2,609,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake 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 in the last quarter. Renaissance Technologies LLC bought a new stake in Cowen Group during the fourth quarter valued at about $1,634,000. Russell Investments Group Ltd. bought a new stake in Cowen Group during the fourth quarter valued at about $143,000. American International Group Inc. boosted its stake 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 in the last quarter. Finally, Fisher Asset Management LLC boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 81.32% of the company’s stock.
Cowen Group, Inc. (COWN) opened at 16.65 on Tuesday. The firm’s market capitalization is $514.19 million. The firm’s 50-day moving average is $16.32 and its 200-day moving average is $15.09. Cowen Group, Inc. has a 12 month low of $11.60 and a 12 month high of $16.95.
Cowen Group (NASDAQ:COWN) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.12. The company had revenue of $171.90 million for the quarter, compared to the consensus estimate of $169.54 million. Cowen Group had a return on equity of 1.92% and a net margin of 1.00%. The firm’s quarterly revenue was up 113.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities research analysts expect that Cowen Group, Inc. will post $1.65 EPS for the current year.
COWN has been the topic of several research analyst reports. BidaskClub cut shares of Cowen Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Instinet reissued a “neutral” rating and issued a $18.00 target price (up from $17.00) on shares of Cowen Group in a research report on Friday. Finally, Nomura raised their target price on shares of Cowen Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th.
In related news, major shareholder Peter A. Cohen sold 194,349 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Peter A. Cohen sold 133,202 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $0.37, for a total value of $49,284.74. The disclosure for this sale can be found here. In the last three months, insiders sold 1,049,914 shares of company stock valued at $300,237. 6.20% of the stock is currently owned by company insiders.
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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