Russell Investments Group Ltd. decreased its stake in shares of Cowen Inc. (NASDAQ:COWN) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 216,392 shares of the financial services provider’s stock after selling 16,511 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cowen were worth $7,422,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in COWN. Private Capital Group LLC grew its position in shares of Cowen by 79.5% during the 3rd quarter. Private Capital Group LLC now owns 921 shares of the financial services provider’s stock worth $32,000 after buying an additional 408 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Cowen in the 2nd quarter worth $43,000. US Bancorp DE lifted its holdings in shares of Cowen by 90.5% in the 2nd quarter. US Bancorp DE now owns 1,625 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 772 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cowen by 59.2% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,750 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 651 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Cowen by 62.8% in the 2nd quarter. Lazard Asset Management LLC now owns 2,007 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 774 shares in the last quarter. 93.60% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Cowen in a report on Tuesday, September 21st. They issued a “sell” rating and a $35.00 target price on the stock. Zacks Investment Research upgraded Cowen from a “sell” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Thursday, November 4th.
Shares of NASDAQ:COWN opened at $35.07 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $36.51 and its two-hundred day simple moving average is $37.11. Cowen Inc. has a 1-year low of $23.40 and a 1-year high of $44.07. The stock has a market cap of $956.96 million, a PE ratio of 3.61 and a beta of 1.40.
Cowen (NASDAQ:COWN) last issued its quarterly earnings data on Thursday, October 28th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.10. Cowen had a return on equity of 31.20% and a net margin of 16.97%. The business had revenue of $359.06 million for the quarter, compared to analysts’ expectations of $336.73 million. During the same period last year, the business earned $1.25 EPS. On average, sell-side analysts forecast that Cowen Inc. will post 9.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, November 30th. Cowen’s dividend payout ratio (DPR) is presently 4.12%.
Cowen Company Profile
Cowen, Inc engages in the provision of financial services. It operates through following the segments: Operating Company and Asset Company. The Operating Company segment consists of the Cowen Investment Management, the Investment Banking, the Markets, and the Research divisions. The Asset Company segment comprises of the firm’s private investments, private real estate investments, and other legacy investment strategies.
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