Systematic Financial Management LP Raises Stake in Piper Jaffray Companies (PJC)
Systematic Financial Management LP grew its holdings in Piper Jaffray Companies (NYSE:PJC) by 15.4% during the second quarter, HoldingsChannel.com reports. The firm owned 210,875 shares of the financial services provider’s stock after buying an additional 28,129 shares during the period. Systematic Financial Management LP’s holdings in Piper Jaffray Companies were worth $16,206,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PJC. SG Americas Securities LLC acquired a new position in Piper Jaffray Companies in the first quarter worth approximately $179,000. C M Bidwell & Associates Ltd. acquired a new position in Piper Jaffray Companies in the first quarter worth approximately $179,000. Xact Kapitalforvaltning AB acquired a new position in Piper Jaffray Companies in the first quarter worth approximately $222,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Piper Jaffray Companies in the second quarter worth approximately $232,000. Finally, WINTON GROUP Ltd acquired a new position in Piper Jaffray Companies in the first quarter worth approximately $270,000. Institutional investors own 73.99% of the company’s stock.
A number of research firms recently commented on PJC. TheStreet upgraded Piper Jaffray Companies from a “c+” rating to a “b-” rating in a report on Wednesday, June 20th. ValuEngine downgraded Piper Jaffray Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Keefe, Bruyette & Woods downgraded Piper Jaffray Companies from an “outperform” rating to a “market perform” rating in a report on Monday, April 30th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $86.00.
Piper Jaffray Companies (NYSE:PJC) last released its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.24). The firm had revenue of $173.48 million during the quarter. Piper Jaffray Companies had a positive return on equity of 11.47% and a negative net margin of 9.68%.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 24th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 1.93%.
Piper Jaffray Companies Company Profile
Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.
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