New York State Common Retirement Fund decreased its holdings in shares of Cowen Group, Inc. (NASDAQ:COWN) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 216,067 shares of the financial services provider’s stock after selling 39,901 shares during the period. New York State Common Retirement Fund owned approximately 0.69% of Cowen Group worth $3,846,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. acquired a new position in Cowen Group in the 2nd quarter worth $119,000. ETRADE Capital Management LLC bought a new stake in Cowen Group in the 2nd quarter valued at $166,000. Fox Run Management L.L.C. bought a new stake in Cowen Group in the 3rd quarter valued at $205,000. Voya Investment Management LLC boosted its holdings 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 valued at $217,000 after purchasing an additional 1,806 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Cowen Group by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,629 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 876 shares during the period. Institutional investors and hedge funds own 81.18% of the company’s stock.
A number of research firms have recently issued reports on COWN. BidaskClub upgraded shares of Cowen Group from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. Nomura lowered 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.
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 business 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 revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share.
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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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