Fosun International Ltd increased its stake in Cowen Group, Inc. (NASDAQ:COWN) by 182.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,145,187 shares of the financial services provider’s stock after acquiring an additional 740,450 shares during the period. Cowen Group comprises approximately 2.3% of Fosun International Ltd’s portfolio, making the stock its 13th largest position. Fosun International Ltd owned about 4.22% of Cowen Group worth $18,609,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in COWN. Wells Fargo & Company MN grew its position in Cowen Group by 4.9% in the first quarter. Wells Fargo & Company MN now owns 486,205 shares of the financial services provider’s stock worth $7,270,000 after acquiring an additional 22,771 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Cowen Group by 91.7% in the first quarter. Parametric Portfolio Associates LLC now owns 82,095 shares of the financial services provider’s stock worth $1,227,000 after acquiring an additional 39,267 shares in the last quarter. Blair William & Co. IL grew its position in Cowen Group by 6.9% in the first quarter. Blair William & Co. IL now owns 17,975 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 1,166 shares in the last quarter. American International Group Inc. grew its position 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 worth $235,000 after acquiring an additional 1,051 shares in the last quarter. Finally, FMR LLC grew its position in Cowen Group by 34.9% in the first quarter. FMR LLC now owns 1,711,389 shares of the financial services provider’s stock worth $25,586,000 after acquiring an additional 442,401 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.
COWN has been the subject of several recent research reports. BidaskClub downgraded shares of Cowen Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Instinet reissued a “neutral” rating and issued a $18.00 price target (up from $17.00) on shares of Cowen Group in a research note on Friday, August 11th. Finally, Nomura boosted their price target on shares of Cowen Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 10th.
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Cowen Group, Inc. (NASDAQ:COWN) traded down 0.60% during mid-day trading on Friday, reaching $16.70. 408,788 shares of the company’s stock traded hands. Cowen Group, Inc. has a 12-month low of $11.60 and a 12-month high of $16.95. The stock’s market capitalization is $515.73 million. The stock has a 50-day moving average price of $16.16 and a 200-day moving average price of $15.25.
Cowen Group (NASDAQ:COWN) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.12. Cowen Group had a net margin of 1.00% and a return on equity of 1.92%. The business had revenue of $171.90 million during the quarter, compared to analysts’ expectations of $169.54 million. During the same period last year, the company posted ($0.11) EPS. The business’s revenue was up 113.8% on a year-over-year basis. Equities research analysts expect that Cowen Group, Inc. will post $1.65 EPS for the current year.
In other Cowen Group news, major shareholder Peter A. Cohen sold 100,000 shares of Cowen Group stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $0.31, for a total value of $31,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Peter A. Cohen sold 133,202 shares of Cowen Group stock in a transaction on Monday, July 10th. The stock was sold at an average price of $0.37, for a total transaction of $49,284.74. The disclosure for this sale can be found here. Insiders sold a total of 1,049,914 shares of company stock valued at $300,237 over the last three months. Corporate insiders own 4.90% of the company’s stock.
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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