Wells Fargo & Company MN lifted its position in shares of Piper Jaffray Companies (NYSE:PJC) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,003 shares of the financial services provider’s stock after acquiring an additional 375 shares during the quarter. Wells Fargo & Company MN owned approximately 0.12% of Piper Jaffray Companies worth $960,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Piper Jaffray Companies during the first quarter worth $123,000. Creative Planning raised its position in shares of Piper Jaffray Companies by 9.2% during the second quarter. Creative Planning now owns 2,094 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 177 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Piper Jaffray Companies by 78.3% during the second quarter. State of Alaska Department of Revenue now owns 2,800 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 1,230 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Piper Jaffray Companies during the second quarter worth $213,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Piper Jaffray Companies by 3.7% during the second quarter. Nisa Investment Advisors LLC now owns 4,200 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 65.69% of the company’s stock.
PJC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on Piper Jaffray Companies in a research report on Monday, October 16th. They set a “mkt perform” rating and a $64.00 target price for the company. BidaskClub downgraded Piper Jaffray Companies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Piper Jaffray Companies has a consensus rating of “Hold” and an average target price of $27.79.
Shares of Piper Jaffray Companies (NYSE PJC) opened at $71.75 on Friday. The company has a market capitalization of $925.57, a PE ratio of 10.18 and a beta of 1.56. The company has a quick ratio of 0.42, a current ratio of 1.40 and a debt-to-equity ratio of 0.15. Piper Jaffray Companies has a fifty-two week low of $52.75 and a fifty-two week high of $81.85.
Piper Jaffray Companies (NYSE:PJC) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates 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%.
Piper Jaffray Companies announced that its Board of Directors has initiated a stock repurchase program on Thursday, August 10th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 17.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be issued a $0.3125 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $1.25 dividend on an annualized basis and a yield of 1.74%. Piper Jaffray Companies’s dividend payout ratio is presently -26.54%.
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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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