US Bancorp DE Sells 95 Shares of Piper Jaffray Companies (PJC)
US Bancorp DE cut its stake in Piper Jaffray Companies (NYSE:PJC) by 0.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 14,913 shares of the financial services provider’s stock after selling 95 shares during the period. US Bancorp DE’s holdings in Piper Jaffray Companies were worth $894,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Piper Jaffray Companies during the fourth quarter worth approximately $15,292,000. Quadrature Capital Ltd purchased a new stake in Piper Jaffray Companies during the fourth quarter worth approximately $268,000. Teachers Advisors LLC boosted its stake in 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 worth $2,031,000 after buying an additional 1,044 shares during the last quarter. Creative Planning boosted its stake in Piper Jaffray Companies by 32.0% in the first quarter. Creative Planning now owns 1,917 shares of the financial services provider’s stock worth $122,000 after buying an additional 465 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in Piper Jaffray Companies by 15.9% in the first quarter. GW&K Investment Management LLC now owns 3,944 shares of the financial services provider’s stock worth $252,000 after buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.
Piper Jaffray Companies (PJC) traded up 1.49% during midday trading on Friday, reaching $58.05. 29,205 shares of the company’s stock were exchanged. The firm has a market capitalization of $877.37 million, a price-to-earnings ratio of 261.49 and a beta of 1.45. The firm’s 50 day moving average is $62.17 and its 200 day moving average is $64.51. Piper Jaffray Companies has a 52 week low of $42.12 and a 52 week high of $81.85.
Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts anticipate that Piper Jaffray Companies will post $5.39 earnings per share for the current year.
Piper Jaffray Companies declared that its board has authorized a share buyback program on Thursday, August 10th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 17.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 28th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $1.25 annualized dividend and a yield of 2.19%. Piper Jaffray Companies’s dividend payout ratio is presently -1,249.88%.
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A number of equities research analysts have commented on the stock. BidaskClub cut shares of Piper Jaffray Companies from a “hold” rating to a “sell” rating in a research note on Thursday. National Bank Financial raised their target price on shares of Piper Jaffray Companies from $22.00 to $25.00 in a research note on Friday, April 28th. TD Securities restated a “reduce” rating and set a $20.00 target price on shares of Piper Jaffray Companies in a research note on Friday, April 28th. Scotiabank raised their target price on shares of Piper Jaffray Companies from $19.00 to $22.50 and gave the stock a “sector perform” rating in a research note on Friday, April 28th. Finally, CIBC raised their target price on shares of Piper Jaffray Companies from $19.00 to $22.00 in a research note on Friday, April 28th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Piper Jaffray Companies currently has an average rating of “Sell” and a consensus target price of $21.75.
In related news, insider Thomas Gregory Smith sold 1,500 shares of Piper Jaffray Companies stock in a transaction on Monday, July 31st. The stock was sold at an average price of $62.46, for a total transaction of $93,690.00. Following the completion of the transaction, the insider now directly owns 15,279 shares of the company’s stock, valued at $954,326.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Martin Bradley Winges sold 3,000 shares of Piper Jaffray Companies stock in a transaction on Friday, July 28th. The stock was sold at an average price of $64.42, for a total value of $193,260.00. Following the transaction, the insider now directly owns 46,133 shares of the company’s stock, valued at $2,971,887.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,988 shares of company stock valued at $827,163. 5.36% of the stock is currently owned by insiders.
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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