US Bancorp DE Acquires 772 Shares of Cowen Inc. (NASDAQ:COWN)

US Bancorp DE increased its holdings in shares of Cowen Inc. (NASDAQ:COWN) by 90.5% during the second quarter, Holdings Channel.com reports. The fund owned 1,625 shares of the financial services provider’s stock after purchasing an additional 772 shares during the quarter. US Bancorp DE’s holdings in Cowen were worth $67,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Cowen by 33.6% in the 1st quarter. BlackRock Inc. now owns 2,680,545 shares of the financial services provider’s stock valued at $94,222,000 after buying an additional 673,684 shares during the period. Nuveen Asset Management LLC increased its holdings in Cowen by 5.6% in the 1st quarter. Nuveen Asset Management LLC now owns 865,273 shares of the financial services provider’s stock valued at $30,414,000 after buying an additional 45,514 shares during the period. Geode Capital Management LLC increased its holdings in Cowen by 10.4% in the 1st quarter. Geode Capital Management LLC now owns 472,607 shares of the financial services provider’s stock valued at $16,612,000 after buying an additional 44,606 shares during the period. Bank of New York Mellon Corp increased its holdings in Cowen by 14.6% in the 1st quarter. Bank of New York Mellon Corp now owns 212,320 shares of the financial services provider’s stock valued at $7,464,000 after buying an additional 27,059 shares during the period. Finally, Penserra Capital Management LLC bought a new position in Cowen in the 1st quarter valued at about $7,312,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:COWN opened at $33.08 on Tuesday. The firm’s 50 day simple moving average is $37.63 and its 200 day simple moving average is $38.43. Cowen Inc. has a one year low of $14.91 and a one year high of $44.07. The company has a market cap of $959.85 million, a PE ratio of 3.58 and a beta of 1.45.

Cowen (NASDAQ:COWN) last posted its earnings results on Tuesday, July 27th. The financial services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.27 by $0.23. Cowen had a net margin of 16.21% and a return on equity of 31.12%. The business had revenue of $390.13 million for the quarter, compared to the consensus estimate of $330.76 million. On average, equities analysts predict that Cowen Inc. will post 8.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.40 annualized dividend and a yield of 1.21%. Cowen’s dividend payout ratio is presently 3.52%.

Separately, Zacks Investment Research upgraded shares of Cowen from a “sell” rating to a “hold” rating in a research note on Monday, September 13th.

In other news, CEO Jeffrey M. Solomon sold 2,868 shares of Cowen stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $40.00, for a total value of $114,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John J. Holmes sold 1,434 shares of Cowen stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $40.00, for a total transaction of $57,360.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,024 shares of company stock worth $1,606,305. 4.20% of the stock is owned by corporate insiders.

Cowen Profile

Cowen, Inc engages in the provision of financial services. It operates through following the segments: Operating Company and Asset Company. The Operating Company segment consists of the Cowen Investment Management, the Investment Banking, the Markets, and the Research divisions. The Asset Company segment comprises of the firm’s private investments, private real estate investments, and other legacy investment strategies.

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Institutional Ownership by Quarter for Cowen (NASDAQ:COWN)

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