Cowen Group, Inc. (COWN) Price Target Lowered to $16.00 at Nomura
Cowen Group, Inc. (NASDAQ:COWN) had its price target cut by stock analysts at Nomura from $18.00 to $16.00 in a note issued to investors on Tuesday. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Nomura’s price target would suggest a potential upside of 6.67% from the company’s previous close.
COWN has been the subject of several other reports. BidaskClub lowered Cowen Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Instinet reiterated a “neutral” rating and issued a $18.00 target price (up from $17.00) on shares of Cowen Group in a report on Friday, August 11th.
Shares of Cowen Group (NASDAQ:COWN) traded down 1.32% during midday trading on Tuesday, reaching $15.00. The company’s stock had a trading volume of 501,008 shares. The stock’s 50-day moving average is $16.62 and its 200-day moving average is $15.89. Cowen Group has a one year low of $11.60 and a one year high of $18.25. The company’s market capitalization is $463.23 million.
Cowen Group (NASDAQ:COWN) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. Cowen Group had a return on equity of 1.56% and a net margin of 2.29%. The business had revenue of $182.60 million during the quarter, compared to analyst estimates of $181.96 million. During the same period last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. On average, equities analysts expect that Cowen Group will post $1.35 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in Cowen Group by 4.2% in the second 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. American International Group Inc. boosted its holdings in Cowen Group by 7.2% in the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 1,051 shares during the period. Voya Investment Management LLC boosted its holdings in Cowen Group by 15.7% in the second 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. Teachers Advisors LLC boosted its holdings in Cowen Group by 9.8% in the second quarter. Teachers Advisors LLC now owns 45,204 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 4,031 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Cowen Group by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 112,803 shares of the financial services provider’s stock valued at $1,687,000 after purchasing an additional 5,955 shares during the period. Hedge funds and other institutional investors 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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