US Bancorp DE lowered its position in shares of Piper Jaffray Companies (NYSE:PJC) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,913 shares of the financial services provider’s stock after selling 95 shares during the period. US Bancorp DE owned 0.10% of Piper Jaffray Companies worth $894,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PJC. BlackRock Inc. boosted its position in shares of Piper Jaffray Companies by 47,403.3% in the first quarter. BlackRock Inc. now owns 1,812,252 shares of the financial services provider’s stock worth $115,713,000 after buying an additional 1,808,437 shares in the last quarter. Norges Bank acquired a new position in shares of Piper Jaffray Companies during the fourth quarter worth about $15,292,000. Renaissance Technologies LLC boosted its position in shares of Piper Jaffray Companies by 284.0% in the first quarter. Renaissance Technologies LLC now owns 112,500 shares of the financial services provider’s stock worth $7,183,000 after buying an additional 83,200 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Piper Jaffray Companies by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,291,674 shares of the financial services provider’s stock worth $82,473,000 after buying an additional 67,880 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Piper Jaffray Companies by 9.6% in the first quarter. State Street Corp now owns 416,794 shares of the financial services provider’s stock worth $26,614,000 after buying an additional 36,429 shares in the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.
Piper Jaffray Companies (NYSE:PJC) traded up 1.49% on Friday, hitting $58.05. 29,205 shares of the company were exchanged. The company has a 50 day moving average price of $62.17 and a 200-day moving average price of $64.51. Piper Jaffray Companies has a 52 week low of $42.12 and a 52 week high of $81.85. The stock has a market capitalization of $877.37 million, a P/E ratio of 261.49 and a beta of 1.45.
Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.29. Piper Jaffray Companies had a net margin of 0.40% and a return on equity of 9.63%. The firm had revenue of $197.75 million for the quarter. On average, equities analysts expect that Piper Jaffray Companies will post $5.39 earnings per share for the current fiscal year.
Piper Jaffray Companies declared that its Board of Directors has authorized a stock buyback program on Thursday, August 10th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 17.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, August 24th. Piper Jaffray Companies’s dividend payout ratio (DPR) is presently -1,249.88%.
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PJC has been the subject of a number of analyst reports. Desjardins cut shares of Piper Jaffray Companies from a “hold” rating to a “sell” rating and reduced their price objective for the company from $21.00 to $20.00 in a report on Friday, April 28th. BMO Capital Markets reiterated a “market perform” rating and set a $21.00 price objective on shares of Piper Jaffray Companies in a report on Friday, April 28th. CIBC lifted their price objective on shares of Piper Jaffray Companies from $19.00 to $22.00 in a report on Friday, April 28th. BidaskClub upgraded shares of Piper Jaffray Companies from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Scotiabank lifted their price objective on shares of Piper Jaffray Companies from $19.00 to $22.50 and gave the company a “sector perform” rating in a report on Friday, April 28th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company presently has a consensus rating of “Sell” and a consensus price target of $21.75.
In other news, insider Martin Bradley Winges sold 3,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $64.42, for a total value of $193,260.00. Following the transaction, the insider now owns 46,133 shares in the company, valued at approximately $2,971,887.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Gregory Smith sold 1,500 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $62.46, for a total transaction of $93,690.00. Following the completion of the transaction, the insider now owns 15,279 shares in the company, valued at approximately $954,326.34. The disclosure for this sale can be found here. Insiders sold a total of 12,988 shares of company stock worth $827,163 in the last quarter. Company insiders own 5.36% of the company’s stock.
About Piper Jaffray Companies
Piper Jaffray Companies is an investment bank and asset management company. The Company’s segments include Capital Markets and Asset Management. The Capital Markets segment provides investment banking and institutional sales, trading and research services for various equity and fixed income products.
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