Parametric Portfolio Associates LLC Purchases 55,922 Shares of Cowen Group, Inc. (COWN)
Parametric Portfolio Associates LLC raised its position in Cowen Group, Inc. (NASDAQ:COWN) by 68.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,017 shares of the financial services provider’s stock after acquiring an additional 55,922 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.51% of Cowen Group worth $2,243,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. FMR LLC lifted its stake in Cowen Group by 35.4% in the second quarter. FMR LLC now owns 2,317,324 shares of the financial services provider’s stock worth $37,657,000 after acquiring an additional 605,935 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cowen Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 1,157,564 shares of the financial services provider’s stock worth $18,810,000 after acquiring an additional 22,937 shares during the last quarter. Fosun International Ltd lifted its stake in Cowen Group by 182.9% in the second quarter. Fosun International Ltd now owns 1,145,187 shares of the financial services provider’s stock worth $18,609,000 after acquiring an additional 740,450 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Cowen Group by 3.8% in the second quarter. Wells Fargo & Company MN now owns 504,613 shares of the financial services provider’s stock worth $8,199,000 after acquiring an additional 18,408 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Cowen Group by 10.5% during the second quarter. William Blair Investment Management LLC now owns 437,497 shares of the financial services provider’s stock worth $7,109,000 after purchasing an additional 41,425 shares in the last quarter. Institutional investors own 81.58% of the company’s stock.
Shares of Cowen Group, Inc. (NASDAQ COWN) opened at $14.40 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.16. Cowen Group, Inc. has a 1-year low of $11.60 and a 1-year high of $18.25. The firm has a market cap of $458.54, a P/E ratio of 40.97 and a beta of 1.61.
Cowen Group (NASDAQ:COWN) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. Cowen Group had a net margin of 2.29% and a return on equity of 1.54%. The company had revenue of $182.60 million for the quarter, compared to analysts’ expectations of $181.96 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis.
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A number of research firms have weighed in on COWN. Nomura cut their price objective on shares of Cowen Group from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, October 31st. BidaskClub cut shares of Cowen Group from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Instinet reissued a “neutral” rating and set a $18.00 price objective (up previously from $17.00) on shares of Cowen Group in a report on Friday, August 11th.
Cowen Group Company Profile
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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