|Over a month ago|
Cowen Group reports Q2 economic operating EPS $1.50, consensus $1.55 » 07:0807/2807/28/21
Reports Q2 net revenue…
Reports Q2 net revenue $395.68M, consensus $373.61M. As of June 30, 2021, the Company had assets under management of $14.4 billion, an increase of $0.4 billion from March 31, 2021 and an increase of $2.9 billion from June 30, 2020, respectively. Jeffrey Solomon, Chair and Chief Executive Officer of Cowen, said, "Our solid performance in the second quarter demonstrates the sustainable earnings power of our core operating business. This is the result of the increased breadth and depth of our capabilities developed through strategic investments over the last several years. We are confident that Cowen is well positioned to continue helping our clients achieve their goals while unlocking significant value for our shareholders."
Cowen Group up 8% to $43.94 in afternoon trading » 13:4806/2306/23/21
At time of writing, Cowen…
At time of writing, Cowen shares are up $3.40, or 8%, to $43.90. Yesterday morning, Cowen announced that its board had approved an increase in the company's existing share repurchase program. With this increase, the total amount now available for repurchase under the current plan is $50M.
Cowen board approves increase in share repurchase program to $50M » 07:4906/2206/22/21
Cowen announced that its…
Cowen announced that its Board of Directors has approved an increase in the Company's existing share repurchase program. With this increase, the total amount now available for repurchase under the current plan is $50M.
|Over a quarter ago|
Cowen Group appoints Jenny Killeen as head of human resources » 07:5806/0806/08/21
Cowen announced that…
Cowen announced that Jenny Killeen has joined the company as Managing Director, Head of Human Resources, succeeding Jane Gerhard, who is retiring from the Company. In her role, Ms. Killeen will be responsible for the Company's people strategy, including talent acquisition, retention and development. In addition, Ms. Killeen is joining Cowen's Management Committee, comprised of senior executives from across the organization and responsible for the development and execution of Cowen's long-term strategy. She will be based in New York and will have a dual reporting line to Jeffrey Solomon, CEO, and John Holmes, COO. Prior to joining Cowen, Ms. Killeen spent five years at MSD Capital, L.P. where she held the role of Managing Director, Head of Human Capital.
Cowen, PolySign launch strategic partnership, help clients access cryptocurrency » 08:1605/1305/13/21
Cowen Digital Asset…
Cowen Digital Asset Investment, a division of Cowen, and PolySign announced a strategic partnership, with the goal of enabling Cowen's institutional clients to "seamlessly secure, access and leverage cryptocurrencies and digital assets in their portfolios," the company said. In support of the partnership, Cowen has made a $25M strategic investment in PolySign, leading the $53M initial closing of PolySign's Series B financing. Also investing in the round were Blockchain.com, Race Capital, Sandia Holdings and PilotRock Investments. The funds will be used to accelerate PolySign's ongoing development of institutional blockchain applications. "Cowen and PolySign plan to utilize and leverage each other's expertise as the companies work together to implement a comprehensive digital asset solution for institutional clients. Institutional-grade, regulated custody solutions for a wide array of digital assets will be provided by Standard Custody & Trust Company, a PolySign subsidiary," the company added.
Cowen Group raises quarterly dividend 25% to 10c » 07:3404/2904/29/21
Cowen Group increased its…
Cowen Group increased its quarterly cash dividend payable on its common stock by 25% to 10c per common share. The dividend will be payable on June 15 to stockholders of record on June 1.
Cowen Group reports Q1 non-GAAP EPS $4.34, consensus $3.21 » 07:3304/2904/29/21
Reports Q1 revenue…
Reports Q1 revenue $754.3M, consensus $528.58M. As of March 31, AUM were $14.0B, up $1.5B from December 31, 2020 and up $3.2B from March 31, 2020, respectively. CEO Jeffrey Solomon said, "Our record results in Q1 demonstrate that our business continues to perform at a high level. We are benefiting from the momentum we gathered in 2020 by continuing to position ourselves for sustainable growth over the longer term. We are mindful that our success is dependent upon the success of our clients, our shareholders and our communities and we are grateful for the trust those stakeholders put in us every day. We look forward to building on this shared success as we prepare for a brighter future in the rest of 2021 and beyond."
Cowen Group upgraded to Buy from Neutral at Compass Point » 05:3403/2903/29/21
Compass Point analyst…
Compass Point analyst Chris Allen upgraded Cowen Group to Buy from Neutral with a $43 price target.
Cowen Group launches algorithmic trading solution » 08:2703/2503/25/21
Cowen announced it has…
Cowen announced it has launched a new algorithmic trading solution, the "Inaccessible Liquidity Adjustment," to address fundamental shifts in the US market structure and help clients accurately navigate the ever-evolving investment landscape. The mix in trading volumes driven by retail and institutional investors has caused a fundamental shift in U.S. equity markets over the past two years. Cowen has found that individual stocks with higher rates of inaccessible liquidity, often driven by retail trading, tend to have higher execution costs, which can have measurable impacts on institutional investors. Cowen's new algorithmic trading solution directly addresses the market dynamic related to increased volumes of retail trading which impact single-stock execution, mitigating increased costs for its clients.
Piper 'strongly' believes Cowen pullbacks should be bought » 06:1403/2503/25/21
While the special purpose…
While the special purpose acquisition company market has exploded in the last year and Cowen Group has benefited from the spike in activity, the overall contribution to the company's earnings has been relatively small, Piper Sandler analyst Sumeet Mody tells investors in a research note. The analyst believes negative SPAC sentiment has been creating downward pressure on Cowen shares. Certain investors believe the company is overly exposed to the SPAC market and that the stock should decline with any future reduction in SPAC activity, says Mody. However, the analyst thinks the reduction in Cowen Group shares "may be irrationally related" to the negative outlook associated with the SPAC market. Mody "strongly" believes investors should be buying any dips between now and Cowen's Q1 earnings report. The analyst keeps an Overweight rating on the shares with a $68 price target.