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Cohen & Company Inc. (COHN) is a publicly-owned investment management firm headquartered in Philadelphia, Pennsylvania. Established in 1999, the company is recognized for its expertise in managing a range of fixed-income portfolios, with services extended to individuals and institutions globally. Formerly known as Institutional Financial Markets, Inc., Cohen & Company has a robust presence with additional offices in New York City, Boca Raton, Chicago, Bethesda, Boston, Paris, and London.
The firm's business is segmented into three primary areas:
- Capital Markets: This segment is the main revenue driver and includes activities such as fixed-income sales and trading, matched book repo financing, new issue placements in corporate and securitized products, and advisory services.
- Asset Management: This segment focuses on managing assets within collateralized debt obligations, managed accounts, joint ventures, and investment funds. It invests in U.S. trust preferred securities, European hybrid capital securities, Asian commercial real estate debt, mortgage-backed securities, and asset-backed securities.
- Principal Investing: This segment involves investments aimed at generating returns rather than supporting trading or other capital market activities.
Recently, Cohen & Company has been actively involved in the de-SPAC market, advising on 29 announced or closed deals, representing nearly $16 billion in M&A volume for 2023. The firm is known for its innovative solutions and strategic advisory services across various sectors including blockchain, digital assets, auto-tech, clean-tech, and cybersecurity.
The company had a strong performance in 2023, despite challenges in new issue markets. CCM, the firm's capital markets division, was a leading advisor in the de-SPAC market and has expanded its senior leadership team with notable hires to bolster its capabilities in M&A, capital markets, and SPAC advisory.
Cohen & Company continues to innovate and adapt, leveraging its expertise to navigate market fluctuations and provide top-tier services to its clients. With a positive outlook for 2024, the firm anticipates increased activity in M&A and new SPAC issuance, driven by improved access to credit markets and a recovering economic backdrop.
Cohen & Company Inc. reported strong financial results for the first quarter of 2024, with net income of $2.0 million and adjusted pre-tax income of $7.7 million. The company declared a quarterly dividend of $0.25 per share. Despite market challenges, the company continues to focus on growth and investment in its full-service boutique investment banking operation. Net trading revenue increased by 26% from the prior quarter. The company remains committed to enhancing shareholder value through prudent investments and revenue generation.
Cohen & Company Inc. (NYSE American: COHN) has announced the release date for its first-quarter 2024 financial results, scheduled for May 6, 2024. A conference call will be held the same day at 10:00 a.m. Eastern Time to discuss the results, with webcast and call-in options available for interested parties.
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