Schwab Charles Investment Management Inc. lessened its holdings in Cowen Group, Inc. (NASDAQ:COWN) by 14.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,125 shares of the financial services provider’s stock after selling 16,678 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.35% of Cowen Group worth $1,563,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. bought a new position in shares of Cowen Group in the second quarter worth $119,000. American International Group Inc. raised its stake 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. California Public Employees Retirement System raised its stake 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. Parametric Portfolio Associates LLC raised its stake in shares of Cowen Group by 91.7% during the first quarter. Parametric Portfolio Associates LLC now owns 82,095 shares of the financial services provider’s stock valued at $1,227,000 after acquiring an additional 39,267 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Cowen Group during the second quarter valued at about $1,649,000. Hedge funds and other institutional investors own 81.58% of the company’s stock.
Cowen Group, Inc. (NASDAQ COWN) traded down $0.05 during mid-day trading on Friday, hitting $14.40. 140,400 shares of the stock traded hands, compared to its average volume of 327,423. The stock has a market cap of $449.22, a P/E ratio of 40.14 and a beta of 1.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79. Cowen Group, Inc. has a fifty-two week low of $12.00 and a fifty-two week high of $18.25.
Cowen Group (NASDAQ:COWN) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.11. The firm had revenue of $182.60 million for the quarter, compared to the consensus estimate of $181.96 million. Cowen Group had a net margin of 2.29% and a return on equity of 1.54%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share.
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Several equities analysts have recently commented on the stock. Nomura lowered their price objective on shares of Cowen Group from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, October 31st. BidaskClub downgraded shares of Cowen Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Instinet reiterated a “neutral” rating and issued a $18.00 price target (up from $17.00) on shares of Cowen Group in a 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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