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

Cowen Inc. (NASDAQ:COWNGet Rating) declared a quarterly dividend on Monday, May 2nd, Wall Street Journal reports. Shareholders of record on Wednesday, June 1st will be paid a dividend of 0.12 per share by the financial services provider on Wednesday, June 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, May 31st.

Cowen has a dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cowen to earn $7.33 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 6.5%.

Shares of Cowen stock opened at $24.69 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $25.90 and its two-hundred day simple moving average is $31.91. The company has a market cap of $677.99 million, a P/E ratio of 4.52 and a beta of 1.45. Cowen has a 12-month low of $21.45 and a 12-month high of $44.07.

Cowen (NASDAQ:COWNGet Rating) last issued its quarterly earnings data on Friday, April 29th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.74. Cowen had a net margin of 10.97% and a return on equity of 18.77%. During the same quarter in the prior year, the company posted $4.34 EPS. Analysts predict that Cowen will post 4.76 EPS for the current fiscal year.

A number of analysts have recently commented on COWN shares. StockNews.com started coverage on shares of Cowen in a report on Thursday, March 31st. They set a “hold” rating on the stock. JMP Securities dropped their target price on shares of Cowen from $62.00 to $59.00 and set a “market outperform” rating on the stock in a report on Thursday, April 7th. Piper Sandler boosted their target price on shares of Cowen from $55.00 to $58.00 in a report on Monday. Zacks Investment Research cut shares of Cowen from a “buy” rating to a “strong sell” rating in a report on Tuesday, April 12th. Finally, TheStreet cut shares of Cowen from a “b-” rating to a “c” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.50.

In other Cowen news, Director Lorence H. Kim bought 30,000 shares of the firm’s stock in a transaction on Friday, February 25th. The stock was acquired at an average price of $30.03 per share, with a total value of $900,900.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brett H. Barth bought 10,000 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The stock was acquired at an average cost of $28.78 per share, with a total value of $287,800.00. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its position in shares of Cowen by 421.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 58,021 shares of the financial services provider’s stock valued at $2,095,000 after purchasing an additional 46,903 shares during the last quarter. Vident Investment Advisory LLC increased its holdings in Cowen by 3.2% in the 4th quarter. Vident Investment Advisory LLC now owns 54,914 shares of the financial services provider’s stock worth $1,982,000 after acquiring an additional 1,724 shares in the last quarter. California State Teachers Retirement System increased its holdings in Cowen by 4.5% in the 4th quarter. California State Teachers Retirement System now owns 36,564 shares of the financial services provider’s stock worth $1,320,000 after acquiring an additional 1,588 shares in the last quarter. Norges Bank purchased a new stake in Cowen in the 4th quarter worth approximately $1,227,000. Finally, Credit Suisse AG increased its holdings in Cowen by 20.4% in the 4th quarter. Credit Suisse AG now owns 22,158 shares of the financial services provider’s stock worth $800,000 after acquiring an additional 3,756 shares in the last quarter. 89.63% of the stock is owned by institutional investors and hedge funds.

About Cowen (Get Rating)

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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Dividend History for Cowen (NASDAQ:COWN)

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