MetLife Investment Advisors LLC bought a new stake in Cowen Group (NASDAQ:COWN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 13,196 shares of the financial services provider’s stock, valued at approximately $180,000.
Other institutional investors have also added to or reduced their stakes in the company. Brandywine Global Investment Management LLC bought a new position in Cowen Group in the fourth quarter valued at $162,000. Landscape Capital Management L.L.C. bought a new position in Cowen Group in the fourth quarter valued at $346,000. Two Sigma Investments LP bought a new position in Cowen Group in the fourth quarter valued at $440,000. Guggenheim Capital LLC bought a new position in Cowen Group in the fourth quarter valued at $605,000. Finally, Swiss National Bank grew its position in Cowen Group by 35.2% in the fourth quarter. Swiss National Bank now owns 51,825 shares of the financial services provider’s stock valued at $707,000 after purchasing an additional 13,500 shares in the last quarter. 86.12% of the stock is owned by institutional investors and hedge funds.
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In other news, Director Peter A. Cohen sold 14,500 shares of Cowen Group stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $15.29, for a total value of $221,705.00. Following the completion of the transaction, the director now owns 793,875 shares of the company’s stock, valued at approximately $12,138,348.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter A. Cohen sold 12,000 shares of Cowen Group stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $14.53, for a total transaction of $174,360.00. Following the completion of the transaction, the director now directly owns 881,877 shares of the company’s stock, valued at approximately $12,813,672.81. The disclosure for this sale can be found here. In the last three months, insiders sold 122,002 shares of company stock valued at $1,851,390. Insiders own 4.90% of the company’s stock.
COWN has been the subject of a number of analyst reports. Nomura raised shares of Cowen Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $16.00 in a research report on Friday, February 16th. BidaskClub raised shares of Cowen Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th.
Shares of COWN opened at $15.25 on Friday. Cowen Group has a one year low of $11.63 and a one year high of $18.25. The stock has a market capitalization of $450.13, a PE ratio of 13.38 and a beta of 1.27. The company has a quick ratio of 1.04, a current ratio of 0.88 and a debt-to-equity ratio of 0.19.
Cowen Group (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.16. Cowen Group had a negative net margin of 5.91% and a positive return on equity of 4.33%. The company had revenue of $241.50 million during the quarter, compared to the consensus estimate of $220.06 million. During the same quarter last year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 110.1% on a year-over-year basis.
Cowen Group declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to repurchase $23.60 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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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