Piper Jaffray Companies (NYSE:PJC) insider Martin Bradley Winges sold 3,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $64.42, for a total transaction of $193,260.00. Following the transaction, the insider now directly owns 46,133 shares of the company’s stock, valued at approximately $2,971,887.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Piper Jaffray Companies (NYSE PJC) traded up 1.84% during trading on Friday, reaching $58.25. 67,713 shares of the company were exchanged. The stock has a market capitalization of $880.39 million, a PE ratio of 262.39 and a beta of 1.45. Piper Jaffray Companies has a one year low of $42.12 and a one year high of $81.85. The stock has a 50-day moving average price of $62.19 and a 200-day moving average price of $64.44.
Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.29. Piper Jaffray Companies had a net margin of 0.40% and a return on equity of 9.63%. The company had revenue of $197.75 million for the quarter. Analysts forecast that Piper Jaffray Companies will post $5.39 EPS for the current year.
Piper Jaffray Companies announced that its Board of Directors has approved a stock buyback plan on Thursday, August 10th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 17.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board 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 given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, August 24th. Piper Jaffray Companies’s dividend payout ratio (DPR) is -1,249.88%.
A number of hedge funds have recently made changes to their positions in PJC. GSA Capital Partners LLP purchased a new stake in shares of Piper Jaffray Companies during the fourth quarter valued at approximately $217,000. Norges Bank purchased a new stake in shares of Piper Jaffray Companies during the fourth quarter valued at approximately $15,292,000. Quadrature Capital Ltd purchased a new stake in shares of Piper Jaffray Companies during the fourth quarter valued at approximately $268,000. Teachers Advisors LLC increased its stake in shares of 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 valued at $2,031,000 after buying an additional 1,044 shares during the period. Finally, Creative Planning increased its stake in shares of Piper Jaffray Companies by 32.0% in the first quarter. Creative Planning now owns 1,917 shares of the financial services provider’s stock valued at $122,000 after buying an additional 465 shares during the period. 78.35% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of Piper Jaffray Companies from a “hold” rating to a “sell” rating in a research note on Thursday. Scotiabank raised their price target on shares of Piper Jaffray Companies from $19.00 to $22.50 and gave the company a “sector perform” rating in a research note on Friday, April 28th. National Bank Financial lifted their target price on shares of Piper Jaffray Companies from $22.00 to $25.00 in a research note on Friday, April 28th. Desjardins downgraded shares of Piper Jaffray Companies from a “hold” rating to a “sell” rating and lowered their target price for the stock from $21.00 to $20.00 in a research note on Friday, April 28th. Finally, TD Securities reissued a “reduce” rating and set a $20.00 target price on shares of Piper Jaffray Companies 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 stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $21.75.
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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