Philadelphia Financial Management of San Francisco LLC lowered its position in shares of Cowen Inc (NASDAQ:COWN) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,728,894 shares of the financial services provider’s stock after selling 146,766 shares during the period. Cowen accounts for about 4.3% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 3rd biggest position. Philadelphia Financial Management of San Francisco LLC owned 0.06% of Cowen worth $23,063,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. PRW Wealth Management LLC bought a new stake in shares of Cowen in the 4th quarter worth approximately $35,000. QCI Asset Management Inc. NY bought a new stake in shares of Cowen in the 4th quarter worth approximately $41,000. Quantamental Technologies LLC bought a new stake in shares of Cowen in the 4th quarter worth approximately $64,000. Acadian Asset Management LLC bought a new stake in shares of Cowen in the 4th quarter worth approximately $81,000. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Cowen by 471.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,014 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 8,261 shares during the last quarter. 90.71% of the stock is owned by institutional investors.
In other news, Director Brett H. Barth purchased 5,000 shares of the stock in a transaction that occurred on Friday, December 21st. The stock was bought at an average cost of $12.92 per share, for a total transaction of $64,600.00. Following the acquisition, the director now directly owns 27,332 shares of the company’s stock, valued at approximately $353,129.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.70% of the company’s stock.
Cowen (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, February 14th. The financial services provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.17. The firm had revenue of $259.90 million during the quarter, compared to analyst estimates of $193.30 million. Cowen had a net margin of 4.55% and a return on equity of 10.00%. The business’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) EPS.
Separately, BidaskClub upgraded shares of Cowen from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th.
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Cowen Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides alternative investment management, investment banking, research, and sales and trading services for its clients. It manages separate client focused portfolio through its subsidiaries. Through its subsidiaries, the firm invests in equity and fixed income markets.
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