LS Investment Advisors LLC lowered its stake in Piper Jaffray Companies (NYSE:PJC) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,075 shares of the financial services provider’s stock after selling 22 shares during the period. LS Investment Advisors LLC’s holdings in Piper Jaffray Companies were worth $124,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Piper Jaffray Companies by 47,403.3% in the first quarter. BlackRock Inc. now owns 1,812,252 shares of the financial services provider’s stock valued at $115,713,000 after buying an additional 1,808,437 shares during the last quarter. Norges Bank bought a new position in shares of Piper Jaffray Companies during the fourth quarter valued at approximately $15,292,000. Renaissance Technologies LLC increased its position in shares of Piper Jaffray Companies by 284.0% in the first quarter. Renaissance Technologies LLC now owns 112,500 shares of the financial services provider’s stock valued at $7,183,000 after buying an additional 83,200 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Piper Jaffray Companies by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,291,674 shares of the financial services provider’s stock valued at $82,473,000 after buying an additional 67,880 shares during the last quarter. Finally, State Street Corp increased its position in shares of Piper Jaffray Companies by 9.6% in the first quarter. State Street Corp now owns 416,794 shares of the financial services provider’s stock valued at $26,614,000 after buying an additional 36,429 shares during the last quarter. 78.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Piper Jaffray Companies (NYSE:PJC) traded up 1.84% during mid-day trading on Friday, reaching $58.25. The company had a trading volume of 67,713 shares. The company has a market capitalization of $880.39 million, a P/E ratio of 262.39 and a beta of 1.45. The firm has a 50-day moving average of $62.19 and a 200-day moving average of $64.44. Piper Jaffray Companies has a 12-month low of $42.12 and a 12-month high of $81.85.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.40 EPS for the quarter, topping 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 business had revenue of $197.75 million during the quarter. On average, equities analysts anticipate that Piper Jaffray Companies will post $5.39 earnings per share for the current fiscal year.

Piper Jaffray Companies announced that its Board of Directors has approved a stock buyback program on Thursday, August 10th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 17.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be issued a $0.3125 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $1.25 annualized dividend and a yield of 2.15%. Piper Jaffray Companies’s dividend payout ratio (DPR) is presently -1,249.88%.

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A number of brokerages have recently issued reports on PJC. Desjardins downgraded Piper Jaffray Companies from a “hold” rating to a “sell” rating and dropped their price objective for the company from $21.00 to $20.00 in a research note on Friday, April 28th. BMO Capital Markets reissued a “market perform” rating and issued a $21.00 price objective on shares of Piper Jaffray Companies in a research note on Friday, April 28th. CIBC boosted their price objective on Piper Jaffray Companies from $19.00 to $22.00 in a research note on Friday, April 28th. BidaskClub raised Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Scotiabank boosted their price objective on 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. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Piper Jaffray Companies has a consensus rating of “Sell” and an average price target of $21.75.

In other Piper Jaffray Companies news, insider Christopher D. Crawshaw sold 8,168 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $63.65, for a total value of $519,893.20. Following the completion of the sale, the insider now directly owns 26,583 shares in the company, valued at $1,692,007.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Gregory Smith sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $62.46, for a total transaction of $93,690.00. Following the completion of the sale, the insider now owns 15,279 shares of the company’s stock, valued at $954,326.34. The disclosure for this sale can be found here. Insiders sold 12,988 shares of company stock valued at $827,163 over the last 90 days. 5.36% of the stock is currently owned by company insiders.

Piper Jaffray Companies Company Profile

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.

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

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