Piper Jaffray Companies (NYSE:PJC) Shares Sold by IndexIQ Advisors LLC

IndexIQ Advisors LLC cut its holdings in shares of Piper Jaffray Companies (NYSE:PJC) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,137 shares of the financial services provider’s stock after selling 3,536 shares during the period. IndexIQ Advisors LLC owned approximately 0.08% of Piper Jaffray Companies worth $890,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Piper Jaffray Companies by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 321,122 shares of the financial services provider’s stock valued at $25,670,000 after purchasing an additional 1,855 shares during the last quarter. Systematic Financial Management LP lifted its stake in Piper Jaffray Companies by 10.0% during the third quarter. Systematic Financial Management LP now owns 232,552 shares of the financial services provider’s stock valued at $17,553,000 after purchasing an additional 21,050 shares during the last quarter. Voya Investment Management LLC lifted its stake in Piper Jaffray Companies by 1,498.4% during the third quarter. Voya Investment Management LLC now owns 191,023 shares of the financial services provider’s stock valued at $14,418,000 after purchasing an additional 179,072 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Piper Jaffray Companies by 8.1% during the third quarter. Fisher Asset Management LLC now owns 133,391 shares of the financial services provider’s stock valued at $10,068,000 after purchasing an additional 10,005 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Piper Jaffray Companies by 17.2% during the third quarter. Assenagon Asset Management S.A. now owns 73,464 shares of the financial services provider’s stock valued at $5,545,000 after purchasing an additional 10,798 shares during the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

PJC stock opened at $86.79 on Friday. Piper Jaffray Companies has a 52-week low of $66.24 and a 52-week high of $82.55. The company’s 50 day simple moving average is $82.51 and its 200-day simple moving average is $77.64. The firm has a market capitalization of $1.22 billion, a P/E ratio of 14.16 and a beta of 1.35.

Several analysts recently commented on PJC shares. Northland Securities reissued a “buy” rating on shares of Piper Jaffray Companies in a research note on Thursday, October 31st. Zacks Investment Research lowered shares of Piper Jaffray Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Piper Jaffray Companies currently has a consensus rating of “Hold” and an average target price of $85.67.

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

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