Piper Jaffray Companies (NYSE:PJC) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in shares of Piper Jaffray Companies (NYSE:PJC) by 68.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,161 shares of the financial services provider’s stock after purchasing an additional 53,225 shares during the quarter. Wells Fargo & Company MN owned about 0.92% of Piper Jaffray Companies worth $9,742,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new stake in shares of Piper Jaffray Companies during the second quarter worth approximately $1,834,000. Fisher Asset Management LLC increased its stake in Piper Jaffray Companies by 17.9% in the second quarter. Fisher Asset Management LLC now owns 123,386 shares of the financial services provider’s stock valued at $9,164,000 after purchasing an additional 18,749 shares during the last quarter. First Trust Advisors LP purchased a new position in Piper Jaffray Companies in the second quarter valued at approximately $891,000. Dimensional Fund Advisors LP increased its stake in Piper Jaffray Companies by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 609,405 shares of the financial services provider’s stock valued at $40,124,000 after purchasing an additional 11,613 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Piper Jaffray Companies in the first quarter valued at approximately $679,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Piper Jaffray Companies stock traded up $0.80 during mid-day trading on Thursday, hitting $78.34. The company had a trading volume of 16,045 shares, compared to its average volume of 82,780. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 12.78 and a beta of 1.37. Piper Jaffray Companies has a 1 year low of $61.35 and a 1 year high of $82.52. The business has a fifty day moving average of $73.48 and a 200 day moving average of $74.23.

Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.27. The company had revenue of $172.42 million for the quarter, compared to analyst estimates of $155.26 million. Piper Jaffray Companies had a net margin of 7.80% and a return on equity of 12.54%. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, equities analysts expect that Piper Jaffray Companies will post 6.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.375 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.91%. Piper Jaffray Companies’s dividend payout ratio (DPR) is presently 24.47%.

Several equities analysts have commented on PJC shares. Northland Securities reiterated a “buy” rating and issued a $89.00 price target on shares of Piper Jaffray Companies in a research note on Friday, July 26th. Zacks Investment Research lowered shares of Piper Jaffray Companies from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd.

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.

Further Reading: Sell-Side Analysts

Institutional Ownership by Quarter for Piper Jaffray Companies (NYSE:PJC)

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