BlackRock Inc. raised its position in Piper Jaffray Companies (NYSE:PJC) by 47,403.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,812,252 shares of the financial services provider’s stock after buying an additional 1,808,437 shares during the period. BlackRock Inc. owned approximately 11.95% of Piper Jaffray Companies worth $115,713,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Piper Jaffray Companies by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,570 shares of the financial services provider’s stock worth $100,000 after buying an additional 20 shares in the last quarter. Creative Planning increased its stake in Piper Jaffray Companies by 32.0% in the first quarter. Creative Planning now owns 1,917 shares of the financial services provider’s stock worth $122,000 after buying an additional 465 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Piper Jaffray Companies during the first quarter worth $123,000. LS Investment Advisors LLC increased its stake in Piper Jaffray Companies by 301.7% in the first quarter. LS Investment Advisors LLC now owns 2,097 shares of the financial services provider’s stock worth $134,000 after buying an additional 1,575 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in Piper Jaffray Companies by 7.2% in the first quarter. Mason Street Advisors LLC now owns 3,333 shares of the financial services provider’s stock worth $213,000 after buying an additional 225 shares in the last quarter. 69.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Piper Jaffray Companies (NYSE PJC) opened at 63.30 on Friday. The company’s 50-day moving average is $62.25 and its 200 day moving average is $65.00. Piper Jaffray Companies has a 12 month low of $40.42 and a 12 month high of $81.85. The stock has a market capitalization of $959.88 million, a P/E ratio of 269.36 and a beta of 1.44.
Piper Jaffray Companies (NYSE:PJC) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.29. The business had revenue of $197.75 million during the quarter. Piper Jaffray Companies had a net margin of 0.40% and a return on equity of 9.66%. Equities research analysts predict that Piper Jaffray Companies will post $5.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 1.97%. Piper Jaffray Companies’s dividend payout ratio is presently -1,249.88%.
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A number of analysts have recently weighed in on PJC shares. National Bank Financial upped their target price on shares of Piper Jaffray Companies from $22.00 to $25.00 in a research report on Friday, April 28th. CIBC upped their target price on shares of Piper Jaffray Companies from $19.00 to $22.00 in a research report on Friday, April 28th. BidaskClub raised shares of Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $21.00 target price on shares of Piper Jaffray Companies in a research report on Friday, April 28th. Finally, TD Securities reaffirmed a “reduce” rating and issued a $20.00 target price on shares of Piper Jaffray Companies in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Piper Jaffray Companies currently has an average rating of “Hold” and an average price target of $21.75.
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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