Cowen Group, Inc. (NASDAQ:COWN) had its target price decreased by stock analysts at Nomura from $18.00 to $16.00 in a research note issued to investors on Tuesday. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Nomura’s price objective would indicate a potential upside of 6.67% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Cowen Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Instinet restated a “neutral” rating and issued a $18.00 price target (up previously from $17.00) on shares of Cowen Group in a research report on Friday, August 11th.
Cowen Group (NASDAQ:COWN) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.11. The firm had revenue of $182.60 million during the quarter, compared to analysts’ expectations of $181.96 million. Cowen Group had a net margin of 2.29% and a return on equity of 1.54%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share.
Large investors have recently modified their holdings of the stock. Sei Investments Co. purchased a new stake in Cowen Group in the 2nd quarter worth approximately $119,000. ETRADE Capital Management LLC purchased a new stake in Cowen Group in the 2nd quarter worth approximately $166,000. Fox Run Management L.L.C. purchased a new stake in Cowen Group in the 3rd quarter worth approximately $205,000. Voya Investment Management LLC lifted its position in Cowen Group by 15.7% in the 2nd quarter. Voya Investment Management LLC now owns 13,335 shares of the financial services provider’s stock worth $217,000 after buying an additional 1,806 shares in the last quarter. Finally, American International Group Inc. lifted its position in Cowen Group by 7.2% in the 1st quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock worth $235,000 after buying an additional 1,051 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.
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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