Cowen Group, Inc. (NASDAQ:COWN) Stake Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in shares of Cowen Group, Inc. (NASDAQ:COWN) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,250 shares of the financial services provider’s stock after selling 18,150 shares during the period. Victory Capital Management Inc. owned 0.27% of Cowen Group worth $1,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American International Group Inc. raised its holdings in Cowen Group by 7.2% during the 1st quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 1,051 shares during the last quarter. California Public Employees Retirement System raised its holdings in Cowen Group by 82.9% during the 1st quarter. California Public Employees Retirement System now owns 35,075 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 15,900 shares during the last quarter. Vanguard Group Inc. raised its holdings in Cowen Group by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 1,134,627 shares of the financial services provider’s stock worth $16,963,000 after purchasing an additional 118,888 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cowen Group by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 231,702 shares of the financial services provider’s stock worth $3,463,000 after purchasing an additional 7,890 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Cowen Group by 5.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 112,803 shares of the financial services provider’s stock worth $1,687,000 after purchasing an additional 5,955 shares during the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.

COWN has been the subject of several recent research reports. Instinet reissued a “neutral” rating and set a $18.00 price objective (up from $17.00) on shares of Cowen Group in a report on Friday, August 11th. BidaskClub cut Cowen Group from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Nomura upped their price target on Cowen Group from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th.

Cowen Group, Inc. (NASDAQ:COWN) traded up $0.20 during midday trading on Thursday, reaching $13.95. The company had a trading volume of 217,140 shares, compared to its average volume of 321,709. Cowen Group, Inc. has a twelve month low of $12.45 and a twelve month high of $18.25. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.16. The company has a market cap of $439.89, a PE ratio of 39.31 and a beta of 1.57.

Cowen Group (NASDAQ:COWN) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. Cowen Group had a return on equity of 1.54% and a net margin of 2.29%. The business had revenue of $182.60 million during the quarter, compared to analysts’ expectations of $181.96 million. During the same period in the prior year, the business earned $0.10 EPS. Cowen Group’s revenue for the quarter was up 19.0% compared to the same quarter last year.

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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.

Institutional Ownership by Quarter for Cowen Group (NASDAQ:COWN)

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