APG Asset Management N.V. cut its stake in Cowen Inc (NASDAQ:COWN) by 43.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,300 shares of the financial services provider’s stock after selling 82,955 shares during the quarter. APG Asset Management N.V. owned approximately 0.38% of Cowen worth $1,372,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Citigroup Inc. boosted its stake in Cowen by 50.4% during the 4th quarter. Citigroup Inc. now owns 5,784 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 1,938 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Cowen by 47.6% in the first quarter. BNP Paribas Arbitrage SA now owns 8,757 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,824 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Cowen in the first quarter worth about $98,000. Wolverine Trading LLC acquired a new position in Cowen during the first quarter worth about $123,000. Finally, Private Advisor Group LLC purchased a new stake in Cowen during the 4th quarter valued at about $284,000. Institutional investors own 88.48% of the company’s stock.
COWN stock opened at $16.21 on Wednesday. The business has a fifty day moving average of $13.71 and a two-hundred day moving average of $13.51. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $437.61 million, a price-to-earnings ratio of 13.51 and a beta of 1.50. Cowen Inc has a 52-week low of $5.75 and a 52-week high of $18.36.
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, May 29th. Cowen’s dividend payout ratio (DPR) is presently 7.24%.
Several research analysts have recently weighed in on COWN shares. Keefe, Bruyette & Woods initiated coverage on Cowen in a report on Monday, June 22nd. They set a “buy” rating and a $18.00 target price on the stock. BidaskClub raised Cowen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. JMP Securities cut their target price on Cowen from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Thursday, April 9th. Zacks Investment Research upgraded Cowen from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, ValuEngine lowered shares of Cowen from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $19.00.
Cowen Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides alternative investment management, investment banking, research, and sales and trading services for its clients. It manages separate client focused portfolio through its subsidiaries. Through its subsidiaries, the firm invests in equity and fixed income markets.
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