State of Alaska Department of Revenue raised its stake in Piper Jaffray Companies (NYSE:PJC) by 78.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,800 shares of the financial services provider’s stock after buying an additional 1,230 shares during the period. State of Alaska Department of Revenue’s holdings in Piper Jaffray Companies were worth $167,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Piper Jaffray Companies during the fourth quarter valued at about $15,292,000. Quadrature Capital Ltd acquired a new stake in Piper Jaffray Companies during the fourth quarter valued at about $268,000. Teachers Advisors LLC boosted its stake in Piper Jaffray Companies by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 28,008 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 1,044 shares in the last quarter. Creative Planning boosted 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 valued at $122,000 after buying an additional 465 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in Piper Jaffray Companies by 15.9% in the first quarter. GW&K Investment Management LLC now owns 3,944 shares of the financial services provider’s stock valued at $252,000 after buying an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.
Piper Jaffray Companies (NYSE:PJC) traded down 0.95% during trading on Tuesday, reaching $62.70. The company’s stock had a trading volume of 25,384 shares. The firm has a market capitalization of $807.14 million, a P/E ratio of 282.43 and a beta of 1.45. Piper Jaffray Companies has a one year low of $40.52 and a one year high of $81.85. The stock has a 50-day moving average of $62.26 and a 200 day moving average of $64.82.
Piper Jaffray Companies (NYSE:PJC) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.29. Piper Jaffray Companies had a return on equity of 9.66% and a net margin of 0.40%. The company had revenue of $197.75 million during the quarter. On average, equities research analysts predict that Piper Jaffray Companies will post $5.39 EPS for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Thursday, August 24th. This represents a $1.25 annualized dividend and a yield of 1.97%. Piper Jaffray Companies’s dividend payout ratio (DPR) is currently -1,249.88%.
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Several analysts recently issued reports on PJC shares. BMO Capital Markets reiterated 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. CIBC increased their target price on Piper Jaffray Companies from $19.00 to $22.00 in a research report on Friday, April 28th. Desjardins cut Piper Jaffray Companies from a “hold” rating to a “sell” rating and cut their target price for the stock from $21.00 to $20.00 in a research report on Friday, April 28th. National Bank Financial increased their target price on Piper Jaffray Companies from $22.00 to $25.00 in a research report on Friday, April 28th. Finally, Scotiabank increased 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. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $21.75.
In other Piper Jaffray Companies news, insider Martin Bradley Winges sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 46,133 shares in the company, valued at approximately $2,971,887.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas Gregory Smith sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $62.46, for a total value of $93,690.00. Following the sale, the insider now owns 15,279 shares of the company’s stock, valued at $954,326.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,820 shares of company stock valued at $307,270. 5.36% of the stock is owned by company insiders.
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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