Creative Planning Lowers Position in Piper Jaffray Companies (NYSE:PJC)

Creative Planning cut its stake in Piper Jaffray Companies (NYSE:PJC) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,686 shares of the financial services provider’s stock after selling 187 shares during the quarter. Creative Planning’s holdings in Piper Jaffray Companies were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Simplex Trading LLC purchased a new stake in shares of Piper Jaffray Companies during the third quarter valued at approximately $89,000. Quantamental Technologies LLC increased its position in shares of Piper Jaffray Companies by 87.5% during the second quarter. Quantamental Technologies LLC now owns 1,500 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 700 shares during the last quarter. Convergence Investment Partners LLC increased its position in shares of Piper Jaffray Companies by 17.8% during the second quarter. Convergence Investment Partners LLC now owns 2,440 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 369 shares during the last quarter. Bank of Montreal Can increased its position in shares of Piper Jaffray Companies by 57.4% during the second quarter. Bank of Montreal Can now owns 3,155 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 1,151 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Piper Jaffray Companies during the second quarter valued at approximately $238,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

Shares of PJC opened at $78.55 on Tuesday. The stock has a 50 day moving average of $75.00 and a 200 day moving average of $74.92. Piper Jaffray Companies has a 12 month low of $61.35 and a 12 month high of $82.52. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 12.81 and a beta of 1.36.

Piper Jaffray Companies (NYSE:PJC) last released its earnings results on Wednesday, October 30th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.09. Piper Jaffray Companies had a return on equity of 12.26% and a net margin of 10.99%. The business had revenue of $200.74 million during the quarter, compared to the consensus estimate of $205.66 million. Sell-side analysts anticipate that Piper Jaffray Companies will post 6.28 EPS for the current year.

The company also recently announced a dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.375 dividend. The ex-dividend date of this dividend is Thursday, November 21st. Piper Jaffray Companies’s dividend payout ratio is currently 24.47%.

A number of analysts recently commented on the company. Buckingham Research assumed coverage on Piper Jaffray Companies in a research report on Friday, October 4th. They set a “neutral” rating and a $80.00 price target for the company. Zacks Investment Research raised Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Northland Securities reaffirmed a “buy” rating on shares of Piper Jaffray Companies in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Piper Jaffray Companies has a consensus rating of “Hold” and an average price target of $85.33.

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

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