Shell Asset Management Co. cut its holdings in Cowen Inc. (NASDAQ:COWN – Get Rating) by 12.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,051 shares of the financial services provider’s stock after selling 1,585 shares during the period. Shell Asset Management Co.’s holdings in Cowen were worth $299,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC increased its position in shares of Cowen by 24.3% during the fourth quarter. Millennium Management LLC now owns 1,050,635 shares of the financial services provider’s stock worth $37,928,000 after purchasing an additional 205,191 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Cowen by 0.9% during the 4th quarter. Nuveen Asset Management LLC now owns 889,901 shares of the financial services provider’s stock valued at $32,125,000 after buying an additional 8,295 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Cowen by 5.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 425,780 shares of the financial services provider’s stock worth $15,371,000 after purchasing an additional 20,976 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Cowen by 423.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 389,676 shares of the financial services provider’s stock valued at $14,067,000 after buying an additional 315,248 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in shares of Cowen by 1.1% in the 4th quarter. Essex Investment Management Co. LLC now owns 277,965 shares of the financial services provider’s stock valued at $10,035,000 after purchasing an additional 2,894 shares in the last quarter. 89.63% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on COWN shares. Wolfe Research cut shares of Cowen from an “outperform” rating to a “peer perform” rating in a report on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Cowen from $29.00 to $25.00 and set a “sell” rating for the company in a report on Tuesday, April 12th. Piper Sandler cut shares of Cowen from an “overweight” rating to a “neutral” rating in a research report on Thursday. JMP Securities cut shares of Cowen from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, TheStreet lowered shares of Cowen from a “b-” rating to a “c” rating in a research report on Friday, April 29th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.33.
Cowen Trading Up 0.2 %
Cowen Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.24%. Cowen’s dividend payout ratio is presently 10.48%.
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).
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