Bank of New York Mellon Corp Sells 33,059 Shares of Cowen Group, Inc. (COWN)

Bank of New York Mellon Corp Sells 33,059 Shares of Cowen Group, Inc. (COWN)

Bank of New York Mellon Corp reduced its stake in shares of Cowen Group, Inc. (NASDAQ:COWN) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 1,107,488 shares of the company’s stock after selling 33,059 shares during the period. Bank of New York Mellon Corp owned 1.04% of Cowen Group worth $4,021,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Cowen Group by 0.5% in the third quarter. Victory Capital Management Inc. now owns 237,392 shares of the company’s stock valued at $862,000 after buying an additional 1,180 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Cowen Group by 1.1% in the second quarter. Nationwide Fund Advisors now owns 132,445 shares of the company’s stock valued at $392,000 after buying an additional 1,500 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Cowen Group by 4.7% in the second quarter. BlackRock Advisors LLC now owns 55,011 shares of the company’s stock valued at $163,000 after buying an additional 2,488 shares during the last quarter. Salzhauer Michael raised its stake in shares of Cowen Group by 0.4% in the third quarter. Salzhauer Michael now owns 772,004 shares of the company’s stock valued at $2,802,000 after buying an additional 3,184 shares during the last quarter. Finally, Allianz Asset Management AG raised its stake in shares of Cowen Group by 16.3% in the second quarter. Allianz Asset Management AG now owns 36,173 shares of the company’s stock valued at $107,000 after buying an additional 5,068 shares during the last quarter.

Shares of Cowen Group, Inc. (NASDAQ:COWN) opened at 15.15 on Friday. The firm has a 50-day moving average of $15.70 and a 200 day moving average of $6.64. The firm has a market capitalization of $403.99 million, a price-to-earnings ratio of 64.19 and a beta of 1.55. Cowen Group, Inc. has a 52 week low of $2.56 and a 52 week high of $16.75.

Cowen Group (NASDAQ:COWN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. Cowen Group had a net margin of 2.89% and a negative return on equity of 0.08%. The company had revenue of $153.50 million for the quarter, compared to analyst estimates of $134.76 million. During the same period in the prior year, the firm posted ($0.13) EPS. The company’s quarterly revenue was up 85.4% on a year-over-year basis. On average, equities analysts predict that Cowen Group, Inc. will post ($0.25) earnings per share for the current fiscal year.

In other news, General Counsel Owen S. Littman sold 7,500 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $16.39, for a total value of $122,925.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.90% of the company’s stock.

Cowen Group Company Profile

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 hedge funds, private equity structures, registered investment companies and listed investment vehicles.

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