Legal & General Group Plc Acquires 1,782 Shares of Piper Jaffray Companies (PJC)
Legal & General Group Plc grew its holdings in Piper Jaffray Companies (NYSE:PJC) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,017 shares of the financial services provider’s stock after acquiring an additional 1,782 shares during the period. Legal & General Group Plc owned about 0.19% of Piper Jaffray Companies worth $1,679,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Piper Jaffray Companies in the 1st quarter valued at $123,000. Creative Planning boosted its holdings in shares of Piper Jaffray Companies by 9.2% in the 2nd quarter. Creative Planning now owns 2,094 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 177 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Piper Jaffray Companies by 301.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,097 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 1,575 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Piper Jaffray Companies by 78.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,800 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 1,230 shares during the last quarter. Finally, Invictus RG purchased a new stake in shares of Piper Jaffray Companies in the 1st quarter valued at $195,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub downgraded shares of Piper Jaffray Companies from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company presently has an average rating of “Sell” and an average price target of $21.75.
In other Piper Jaffray Companies news, insider Thomas Gregory Smith sold 1,500 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 15,279 shares in the company, valued at approximately $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 Martin Bradley Winges sold 3,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 46,133 shares in the company, valued at $2,971,887.86. The disclosure for this sale can be found here. Insiders sold a total of 12,988 shares of company stock worth $827,163 over the last three months. 5.36% of the stock is currently owned by corporate insiders.
Shares of Piper Jaffray Companies (NYSE:PJC) opened at 56.60 on Tuesday. The company’s 50-day moving average is $56.82 and its 200-day moving average is $60.76. Piper Jaffray Companies has a one year low of $45.95 and a one year high of $81.85. The stock has a market capitalization of $855.45 million, a P/E ratio of 254.95 and a beta of 1.44.
Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $197.75 million for the quarter. Piper Jaffray Companies had a net margin of 0.40% and a return on equity of 9.63%. On average, equities research analysts anticipate that Piper Jaffray Companies will post $5.39 earnings per share for the current year.
Piper Jaffray Companies announced that its board has approved a stock repurchase program on Thursday, August 10th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 17.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 28th were paid a $0.3125 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.25 annualized dividend and a yield of 2.21%. Piper Jaffray Companies’s dividend payout ratio is currently -1,249.88%.
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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