Cowen Inc. Plans Quarterly Dividend of $0.12 (NASDAQ:COWN)

Cowen Inc. (NASDAQ:COWNGet Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Thursday, September 1st will be paid a dividend of 0.12 per share by the financial services provider on Thursday, September 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, August 31st.

Cowen has a dividend payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cowen to earn $7.53 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 6.4%.

Cowen Trading Up 0.2 %

COWN traded up $0.09 during trading on Friday, reaching $38.65. The company had a trading volume of 160,682 shares, compared to its average volume of 2,045,973. The firm’s 50-day simple moving average is $28.58 and its 200 day simple moving average is $27.61. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 8.44 and a beta of 1.63. Cowen has a 12-month low of $21.36 and a 12-month high of $40.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.71.

Institutional Investors Weigh In On Cowen

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in Cowen in the 1st quarter worth approximately $78,000. Point72 Hong Kong Ltd lifted its holdings in Cowen by 188.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,932 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,914 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in Cowen in the 1st quarter worth approximately $209,000. Renaissance Technologies LLC bought a new position in Cowen in the 1st quarter worth approximately $410,000. Finally, MetLife Investment Management LLC increased its position in Cowen by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 15,547 shares of the financial services provider’s stock worth $421,000 after buying an additional 5,469 shares during the period. 89.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on COWN. The Goldman Sachs Group decreased their price objective on Cowen from $29.00 to $25.00 and set a “sell” rating for the company in a research report on Tuesday, April 12th. Wolfe Research lowered Cowen from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. JMP Securities lowered Cowen from an “outperform” rating to a “market perform” rating in a research report on Tuesday. TheStreet lowered Cowen from a “b-” rating to a “c” rating in a research report on Friday, April 29th. Finally, Piper Sandler lowered Cowen from an “overweight” rating to a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.33.

Cowen Company Profile

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Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).

See Also

Dividend History for Cowen (NASDAQ:COWN)

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