Cowen Group, Inc. (COWN) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. lifted its holdings in shares of Cowen Group, Inc. (NASDAQ:COWN) by 12.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,400 shares of the financial services provider’s stock after acquiring an additional 11,695 shares during the quarter. Victory Capital Management Inc. owned 0.38% of Cowen Group worth $1,664,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of COWN. Sei Investments Co. purchased a new stake in shares of Cowen Group during the second quarter valued at approximately $119,000. American International Group Inc. increased its position in shares of Cowen Group by 7.2% during the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 1,051 shares during the last quarter. Blair William & Co. IL increased its position in shares of Cowen Group by 6.9% during the first quarter. Blair William & Co. IL now owns 17,975 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 1,166 shares during the last quarter. Croft Leominster Inc. purchased a new stake in shares of Cowen Group during the first quarter valued at approximately $374,000. Finally, California Public Employees Retirement System increased its position in shares of Cowen Group by 82.9% during the first quarter. California Public Employees Retirement System now owns 35,075 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 15,900 shares during the last quarter. 81.60% of the stock is owned by institutional investors.
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In other Cowen Group news, major shareholder Peter A. Cohen sold 122,363 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $0.32, for a total transaction of $39,156.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Peter A. Cohen sold 194,349 shares of the business’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $0.39, for a total transaction of $75,796.11. 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. Company insiders own 6.20% of the company’s stock.
Shares of Cowen Group, Inc. (NASDAQ COWN) opened at 16.45 on Tuesday. Cowen Group, Inc. has a 52-week low of $11.60 and a 52-week high of $16.95. The stock’s market capitalization is $508.01 million. The firm has a 50-day moving average price of $16.13 and a 200-day moving average price of $15.19.
Cowen Group (NASDAQ:COWN) last announced 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 business had revenue of $171.90 million during the quarter, compared to analyst estimates of $169.54 million. Cowen Group had a net margin of 1.00% and a return on equity of 1.92%. The company’s quarterly revenue was up 113.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. On average, analysts predict that Cowen Group, Inc. will post $1.65 EPS for the current year.
A number of analysts recently commented on COWN shares. BidaskClub downgraded Cowen Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Nomura raised their target price on Cowen Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. Finally, 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, August 11th.
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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