Vanguard Group Inc. lifted its position in shares of Piper Jaffray Companies (NYSE:PJC) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,302,723 shares of the financial services provider’s stock after buying an additional 11,049 shares during the quarter. Vanguard Group Inc. owned approximately 10.12% of Piper Jaffray Companies worth $78,098,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Piper Jaffray Companies during the 1st quarter worth $123,000. Creative Planning grew its position in shares of Piper Jaffray Companies by 9.2% during the 2nd quarter. Creative Planning now owns 2,094 shares of the financial services provider’s stock worth $126,000 after buying an additional 177 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Piper Jaffray Companies by 78.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,800 shares of the financial services provider’s stock worth $167,000 after buying an additional 1,230 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Piper Jaffray Companies by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,842 shares of the financial services provider’s stock worth $170,000 after buying an additional 10 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Piper Jaffray Companies during the 2nd quarter worth $213,000. 65.69% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Christopher D. Crawshaw sold 8,168 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $63.65, for a total transaction of $519,893.20. Following the completion of the transaction, the insider now directly owns 26,583 shares of the company’s stock, valued at approximately $1,692,007.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.36% of the company’s stock.
PJC has been the topic of a number of recent research reports. BidaskClub downgraded Piper Jaffray Companies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Keefe, Bruyette & Woods raised Piper Jaffray Companies from a “market perform” rating to an “outperform” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.79.
Shares of Piper Jaffray Companies (NYSE:PJC) opened at 70.40 on Tuesday. The stock has a market capitalization of $1.06 billion, a PE ratio of 317.12 and a beta of 1.45. Piper Jaffray Companies has a 1-year low of $52.75 and a 1-year high of $81.85. The firm has a 50-day moving average price of $59.58 and a 200-day moving average price of $59.93.
Piper Jaffray Companies (NYSE:PJC) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $1.07. The business had revenue of $240.57 million during the quarter. Piper Jaffray Companies had a positive return on equity of 10.99% and a negative net margin of 6.30%. On average, equities research analysts forecast that Piper Jaffray Companies will post $5.65 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.3125 per share. The ex-dividend date is Tuesday, November 28th. This represents a $1.25 annualized dividend and a dividend yield of 1.78%. Piper Jaffray Companies’s dividend payout ratio is currently -26.54%.
Piper Jaffray Companies announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 10th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 17.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Piper Jaffray Companies Profile
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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