Quantitative Systematic Strategies LLC acquired a new stake in shares of Piper Jaffray Companies (NYSE:PJC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,539 shares of the financial services provider’s stock, valued at approximately $213,000.
Other large investors have also recently added to or reduced their stakes in the company. Sit Investment Associates Inc. purchased a new stake in Piper Jaffray Companies during the second quarter valued at $429,000. Nisa Investment Advisors LLC raised its position in shares of Piper Jaffray Companies by 3.7% in the second quarter. Nisa Investment Advisors LLC now owns 4,200 shares of the financial services provider’s stock valued at $247,000 after buying an additional 150 shares in the last quarter. James Investment Research Inc. raised its position in shares of Piper Jaffray Companies by 35.3% in the second quarter. James Investment Research Inc. now owns 35,979 shares of the financial services provider’s stock valued at $2,157,000 after buying an additional 9,380 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Piper Jaffray Companies by 78.3% in the second quarter. State of Alaska Department of Revenue now owns 2,800 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,230 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Piper Jaffray Companies by 31.8% in the second quarter. Fisher Asset Management LLC now owns 92,372 shares of the financial services provider’s stock valued at $5,538,000 after buying an additional 22,276 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.
Piper Jaffray Companies (NYSE PJC) traded down 0.18% on Friday, hitting $54.95. The stock had a trading volume of 104,391 shares. The stock’s 50-day moving average is $61.85 and its 200-day moving average is $63.95. Piper Jaffray Companies has a 52-week low of $42.12 and a 52-week high of $81.85. The company has a market cap of $830.51 million, a P/E ratio of 247.52 and a beta of 1.45.
Piper Jaffray Companies (NYSE:PJC) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.40 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $197.75 million during the quarter. Analysts expect that Piper Jaffray Companies will post $5.39 earnings per share for the current year.
Piper Jaffray Companies declared that its Board of Directors has authorized a share buyback plan on Thursday, August 10th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the financial services provider to buy up to 17.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, August 24th. Piper Jaffray Companies’s dividend payout ratio is -1,249.88%.
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Several brokerages recently issued reports on PJC. Scotiabank raised their target price on Piper Jaffray Companies from $19.00 to $22.50 and gave the stock a “sector perform” rating in a research report on Friday, April 28th. BidaskClub raised Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. CIBC raised their target price on Piper Jaffray Companies from $19.00 to $22.00 in a research report on Friday, April 28th. National Bank Financial raised their target price on Piper Jaffray Companies from $22.00 to $25.00 in a research report on Friday, April 28th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $21.00 target price on shares of Piper Jaffray Companies in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company currently has a consensus rating of “Sell” and a consensus target price of $21.75.
In other Piper Jaffray Companies news, insider Thomas Gregory Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were 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 of the company’s stock, valued at $954,326.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Crawshaw sold 8,168 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $63.65, for a total transaction of $519,893.20. Following the transaction, the insider now directly owns 26,583 shares of the company’s stock, valued at approximately $1,692,007.95. The disclosure for this sale can be found here. Insiders have sold 12,988 shares of company stock valued at $827,163 in the last ninety days. 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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