Systematic Financial Management LP Has $10.84 Million Stake in Piper Jaffray Companies (PJC)

Systematic Financial Management LP increased its position in Piper Jaffray Companies (NYSE:PJC) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,833 shares of the financial services provider’s stock after acquiring an additional 1,962 shares during the quarter. Systematic Financial Management LP owned about 1.40% of Piper Jaffray Companies worth $10,841,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PJC. Teachers Advisors LLC boosted its position in shares of 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 acquiring an additional 1,044 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Piper Jaffray Companies by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 5,800 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 100 shares during the period. State of Alaska Department of Revenue boosted its position in shares of 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 valued at $100,000 after acquiring an additional 20 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Piper Jaffray Companies by 29.0% in the first quarter. Russell Investments Group Ltd. now owns 121,532 shares of the financial services provider’s stock valued at $7,760,000 after acquiring an additional 27,305 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of Piper Jaffray Companies by 7.5% in the first quarter. Great West Life Assurance Co. Can now owns 19,731 shares of the financial services provider’s stock valued at $1,259,000 after acquiring an additional 1,377 shares during the period. Institutional investors own 66.35% of the company’s stock.

In other news, insider Christopher D. Crawshaw sold 8,168 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $63.65, for a total transaction of $519,893.20. Following the completion of the transaction, the insider now directly owns 26,583 shares in the company, valued at approximately $1,692,007.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martin Bradley Winges sold 3,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $64.42, for a total value of $193,260.00. Following the transaction, the insider now owns 46,133 shares of the company’s stock, valued at $2,971,887.86. The disclosure for this sale can be found here. Insiders have sold a total of 12,988 shares of company stock valued at $827,163 over the last quarter. Corporate insiders own 5.36% of the company’s stock.

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Separately, BidaskClub lowered shares of Piper Jaffray Companies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has a consensus rating of “Sell” and an average target price of $21.75.

Shares of Piper Jaffray Companies (NYSE PJC) opened at 53.60 on Friday. The company has a 50-day moving average of $58.60 and a 200-day moving average of $61.78. The stock has a market capitalization of $810.11 million, a P/E ratio of 241.44 and a beta of 1.44. Piper Jaffray Companies has a 52 week low of $44.56 and a 52 week high of $81.85.

Piper Jaffray Companies (NYSE:PJC) last posted its earnings results on Thursday, July 27th. The financial services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $197.75 million during the quarter. Piper Jaffray Companies had a return on equity of 9.63% and a net margin of 0.40%. On average, analysts anticipate that Piper Jaffray Companies will post $5.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.33%. Piper Jaffray Companies’s dividend payout ratio is currently -1,249.88%.

Piper Jaffray Companies declared that its board has approved a share repurchase plan on Thursday, August 10th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 17.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.

Institutional Ownership by Quarter for Piper Jaffray Companies (NYSE:PJC)

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