Ameriprise Financial Inc. decreased its stake in shares of Piper Jaffray Cos. (NYSE:PJC) by 16.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,484 shares of the company’s stock after selling 20,931 shares during the period. Ameriprise Financial Inc. owned about 0.87% of Piper Jaffray Cos. worth $4,089,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PJC. BNP Paribas Arbitrage SA raised its stake in shares of Piper Jaffray Cos. by 101.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,491 shares of the company’s stock worth $169,000 after buying an additional 2,258 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Piper Jaffray Cos. by 10.6% in the second quarter. Eqis Capital Management Inc. now owns 5,989 shares of the company’s stock worth $226,000 after buying an additional 572 shares during the last quarter. NorthRock Partners LLC purchased a new stake in shares of Piper Jaffray Cos. during the first quarter worth about $492,000. Adams Diversified Equity Fund Inc. purchased a new stake in shares of Piper Jaffray Cos. during the second quarter worth about $377,000. Finally, A.R.T. Advisors LLC raised its stake in shares of Piper Jaffray Cos. by 80.2% in the first quarter. A.R.T. Advisors LLC now owns 18,650 shares of the company’s stock worth $924,000 after buying an additional 8,300 shares during the last quarter. Institutional investors and hedge funds own 66.27% of the company’s stock.
Piper Jaffray Cos. (NYSE:PJC) traded up 0.49% during mid-day trading on Wednesday, reaching $51.25. The company’s stock had a trading volume of 2,740 shares. The company’s 50-day moving average price is $47.59 and its 200 day moving average price is $43.57. The firm has a market capitalization of $779.72 million, a price-to-earnings ratio of 34.08 and a beta of 1.56. Piper Jaffray Cos. has a 52 week low of $31.66 and a 52 week high of $51.50.
Piper Jaffray Cos. (NYSE:PJC) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.35. The company earned $170.50 million during the quarter, compared to the consensus estimate of $143.86 million. Piper Jaffray Cos. had a net margin of 2.97% and a return on equity of 5.74%. Piper Jaffray Cos.’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, equities analysts forecast that Piper Jaffray Cos. will post $3.82 earnings per share for the current fiscal year.
Separately, TheStreet upgraded Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $45.00.
In other news, insider Christopher D. Crawshaw sold 21,737 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $41.45, for a total transaction of $900,998.65. Following the completion of the sale, the insider now owns 56,651 shares in the company, valued at approximately $2,348,183.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Gregory Smith sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $41.42, for a total transaction of $103,550.00. Following the sale, the insider now owns 13,751 shares of the company’s stock, valued at approximately $569,566.42. The disclosure for this sale can be found here. Insiders own 6.46% of the company’s stock.
About Piper Jaffray Cos.
Piper Jaffray Companies is an investment bank and asset management company, which serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services, including equity and debt capital markets products, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research, and asset management services.
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