Piper Jaffray Companies (PJC) Position Lowered by First Trust Advisors LP
First Trust Advisors LP cut its holdings in shares of Piper Jaffray Companies (NYSE:PJC) by 31.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,705 shares of the financial services provider’s stock after selling 6,260 shares during the period. First Trust Advisors LP owned approximately 0.09% of Piper Jaffray Companies worth $813,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. boosted its position in shares of Piper Jaffray Companies by 93.0% during the third quarter. Farmers & Merchants Investments Inc. now owns 2,090 shares of the financial services provider’s stock valued at $124,000 after buying an additional 1,007 shares during the last quarter. Fisher Asset Management LLC boosted its position in Piper Jaffray Companies by 9.8% in the third quarter. Fisher Asset Management LLC now owns 101,454 shares of the financial services provider’s stock worth $6,021,000 after purchasing an additional 9,082 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its position in Piper Jaffray Companies by 70.2% in the third quarter. Quantitative Systematic Strategies LLC now owns 6,025 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 2,486 shares during the last quarter. Shell Asset Management Co. boosted its position in Piper Jaffray Companies by 34.3% in the third quarter. Shell Asset Management Co. now owns 48,416 shares of the financial services provider’s stock worth $2,529,000 after purchasing an additional 12,376 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its position in Piper Jaffray Companies by 41.3% in the third quarter. Sit Investment Associates Inc. now owns 10,100 shares of the financial services provider’s stock worth $599,000 after purchasing an additional 2,950 shares during the last quarter. 66.31% of the stock is currently owned by institutional investors.
Shares of Piper Jaffray Companies (NYSE:PJC) remained flat at $$76.70 during trading hours on Thursday. The stock had a trading volume of 55,300 shares, compared to its average volume of 101,799. The firm has a market capitalization of $1,158.87, a PE ratio of 10.88 and a beta of 1.58. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 0.15. Piper Jaffray Companies has a 1 year low of $52.75 and a 1 year high of $81.85.
Piper Jaffray Companies (NYSE:PJC) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.06 by $1.07. Piper Jaffray Companies had a positive return on equity of 11.11% and a negative net margin of 6.30%. The firm had revenue of $240.57 million for the quarter.
Piper Jaffray Companies declared that its board has approved a stock repurchase program on Thursday, August 10th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 17.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, November 28th. Piper Jaffray Companies’s dividend payout ratio (DPR) is currently -26.54%.
PJC has been the topic of several research reports. Desjardins raised Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. JMP Securities initiated coverage on Piper Jaffray Companies in a research report on Tuesday, November 7th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods initiated coverage on Piper Jaffray Companies in a research report on Monday, October 16th. They issued a “mkt perform” rating and a $64.00 target price on the stock. Finally, BidaskClub cut Piper Jaffray Companies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Piper Jaffray Companies presently has an average rating of “Hold” and an average target price of $27.79.
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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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