Shell Asset Management Co. decreased its stake in Piper Jaffray Cos. (NYSE:PJC) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 40,681 shares of the company’s stock after selling 2,312 shares during the period. Shell Asset Management Co.’s holdings in Piper Jaffray Cos. were worth $1,534,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in 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. boosted its position in 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. Acrospire Investment Management LLC purchased a new position in Piper Jaffray Cos. during the first quarter worth about $307,000. Adams Diversified Equity Fund Inc. purchased a new position in Piper Jaffray Cos. during the second quarter worth about $377,000. Finally, NorthRock Partners LLC purchased a new position in Piper Jaffray Cos. during the first quarter worth about $492,000. Institutional investors and hedge funds own 66.44% of the company’s stock.
Piper Jaffray Cos. (NYSE:PJC) traded up 2.55% during midday trading on Friday, hitting $48.30. The stock had a trading volume of 130,407 shares. The company has a market capitalization of $734.84 million, a PE ratio of 32.11 and a beta of 1.74. Piper Jaffray Cos. has a 1-year low of $31.66 and a 1-year high of $50.66. The stock’s 50-day moving average is $45.36 and its 200-day moving average is $43.37.
Piper Jaffray Cos. (NYSE:PJC) last announced its earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.35. Piper Jaffray Cos. had a return on equity of 5.74% and a net margin of 2.97%. The company had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $143.86 million. During the same period last year, the firm earned $1.19 EPS. Piper Jaffray Cos.’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Piper Jaffray Cos. will post $0.83 EPS for the current year.
Separately, TheStreet upgraded Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $44.00.
In related news, insider Thomas Gregory Smith sold 2,500 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $41.42, for a total value of $103,550.00. Following the transaction, the insider now directly owns 13,751 shares of the company’s stock, valued at approximately $569,566.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher D. Crawshaw sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $41.88, for a total value of $209,400.00. Following the completion of the transaction, the insider now directly owns 51,651 shares in the company, valued at $2,163,143.88. The disclosure for this sale can be found here. 6.46% of the stock is owned by corporate insiders.
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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