Piper Jaffray Cos. (PJC) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System raised its position in Piper Jaffray Cos. (NYSE:PJC) by 6.7% during the second quarter, Holdings Channel reports. The fund owned 42,900 shares of the company’s stock after buying an additional 2,700 shares during the period. California Public Employees Retirement System owned approximately 0.29% of Piper Jaffray Cos. worth $1,617,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of PJC. Prudential Financial Inc. raised its stake in Piper Jaffray Cos. by 16.0% in the first quarter. Prudential Financial Inc. now owns 620,579 shares of the company’s stock worth $30,756,000 after buying an additional 85,472 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Piper Jaffray Cos. by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 583,180 shares of the company’s stock worth $21,986,000 after buying an additional 18,808 shares during the last quarter. Norges Bank acquired a new stake in Piper Jaffray Cos. during the fourth quarter worth approximately $7,955,000. Panagora Asset Management Inc. raised its stake in Piper Jaffray Cos. by 5.5% in the first quarter. Panagora Asset Management Inc. now owns 174,378 shares of the company’s stock worth $8,642,000 after buying an additional 9,093 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Piper Jaffray Cos. by 17.1% in the second quarter. Acadian Asset Management LLC now owns 147,221 shares of the company’s stock worth $5,549,000 after buying an additional 21,524 shares during the last quarter. 66.45% of the stock is owned by institutional investors and hedge funds.
Shares of Piper Jaffray Cos. (NYSE:PJC) traded up 0.3704% during mid-day trading on Monday, hitting $50.7774. The company had a trading volume of 16,945 shares. Piper Jaffray Cos. has a 1-year low of $31.66 and a 1-year high of $51.34. The company has a 50-day moving average price of $46.21 and a 200-day moving average price of $43.49. The company has a market capitalization of $772.53 million, a price-to-earnings ratio of 33.7616 and a beta of 1.55.
Piper Jaffray Cos. (NYSE:PJC) last posted its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.35. The company earned $170.50 million during the quarter, compared to analyst estimates of $143.86 million. Piper Jaffray Cos. had a return on equity of 5.74% and a net margin of 2.97%. Piper Jaffray Cos.’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, equities analysts anticipate that Piper Jaffray Cos. will post $0.81 EPS for the current year.
Separately, TheStreet raised Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.
In other news, insider Christopher D. Crawshaw sold 5,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $41.88, for a total transaction of $209,400.00. Following the completion of the sale, the insider now owns 51,651 shares in the company, valued at approximately $2,163,143.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher D. Crawshaw sold 21,737 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $41.45, for a total value of $900,998.65. Following the sale, the insider now owns 56,651 shares of the company’s stock, valued at approximately $2,348,183.95. The disclosure for this sale can be found here. Company insiders own 6.46% of the company’s stock.
About Piper Jaffray Cos.
Piper Jaffray Companies is an investment bank and asset management company, which serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services, including equity and debt capital markets products, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research, and asset management services.
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