Public Sector Pension investment Board lessened its holdings in shares of Piper Jaffray Companies (NYSE:PJC) by 26.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,398 shares of the financial services provider’s stock after selling 2,700 shares during the quarter. Public Sector Pension investment Board owned approximately 0.06% of Piper Jaffray Companies worth $444,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. GSA Capital Partners LLP grew its stake in Piper Jaffray Companies by 221.5% during the 2nd quarter. GSA Capital Partners LLP now owns 19,620 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 13,518 shares in the last quarter. New York State Common Retirement Fund grew its stake in Piper Jaffray Companies by 4.1% during the 2nd quarter. New York State Common Retirement Fund now owns 30,029 shares of the financial services provider’s stock valued at $1,800,000 after acquiring an additional 1,190 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Piper Jaffray Companies by 6.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 8,560 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 510 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in 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 valued at $170,000 after acquiring an additional 10 shares in the last quarter. Finally, Stevens Capital Management LP grew its stake in Piper Jaffray Companies by 12.7% during the 2nd quarter. Stevens Capital Management LP now owns 11,154 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 1,261 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors.
In related news, insider Martin Bradley Winges sold 3,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $64.42, for a total transaction of $193,260.00. Following the completion of the transaction, the insider now directly owns 46,133 shares in the company, valued at $2,971,887.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher D. Crawshaw sold 8,168 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $63.65, for a total value of $519,893.20. Following the transaction, the insider now owns 26,583 shares of the company’s stock, valued at $1,692,007.95. The disclosure for this sale can be found here. Insiders sold 12,988 shares of company stock valued at $827,163 over the last 90 days. Corporate insiders own 5.36% of the company’s stock.
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Separately, BidaskClub cut Piper Jaffray Companies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company has an average rating of “Sell” and a consensus price target of $21.75.
Piper Jaffray Companies (NYSE PJC) opened at 60.05 on Wednesday. The stock has a market cap of $907.60 million, a PE ratio of 270.50 and a beta of 1.45. Piper Jaffray Companies has a 1-year low of $49.06 and a 1-year high of $81.85. The firm’s 50-day moving average price is $56.59 and its 200 day moving average price is $59.86.
Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Piper Jaffray Companies had a return on equity of 9.63% and a net margin of 0.40%. The company had revenue of $197.75 million during the quarter. Equities research analysts expect that Piper Jaffray Companies will post $5.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 28th were issued a $0.3125 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.25 annualized dividend and a dividend yield of 2.08%. Piper Jaffray Companies’s dividend payout ratio (DPR) is currently -1,249.88%.
Piper Jaffray Companies declared that its board has initiated a share buyback program on Thursday, August 10th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 17.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
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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