First Trust Advisors LP lowered its position in Piper Jaffray Cos. (NYSE:PJC) by 84.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,368 shares of the company’s stock after selling 41,060 shares during the period. First Trust Advisors LP’s holdings in Piper Jaffray Cos. were worth $278,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Piper Jaffray Cos. by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 583,180 shares of the company’s stock worth $21,986,000 after buying an additional 18,808 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Piper Jaffray Cos. by 5.5% in the first quarter. Panagora Asset Management Inc. now owns 174,378 shares of the company’s stock worth $8,642,000 after buying an additional 9,093 shares in the last quarter. Acadian Asset Management LLC boosted its position in Piper Jaffray Cos. by 17.1% in the second quarter. Acadian Asset Management LLC now owns 147,221 shares of the company’s stock worth $5,549,000 after buying an additional 21,524 shares in the last quarter. American Century Companies Inc. boosted its position in Piper Jaffray Cos. by 1.5% in the second quarter. American Century Companies Inc. now owns 131,730 shares of the company’s stock worth $4,966,000 after buying an additional 2,005 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Piper Jaffray Cos. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 76,498 shares of the company’s stock worth $3,792,000 after buying an additional 33,367 shares in the last quarter. 66.27% of the stock is owned by hedge funds and other institutional investors.
Piper Jaffray Cos. (NYSE:PJC) traded up 0.08% during midday trading on Monday, reaching $50.55. 8,224 shares of the company’s stock traded hands. The firm’s 50-day moving average is $47.19 and its 200-day moving average is $43.62. The company has a market capitalization of $769.07 million, a price-to-earnings ratio of 33.61 and a beta of 1.55. Piper Jaffray Cos. has a 1-year low of $31.66 and a 1-year high of $51.34.
Piper Jaffray Cos. (NYSE:PJC) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.35. Piper Jaffray Cos. had a net margin of 2.97% and a return on equity of 5.74%. The firm earned $170.50 million during the quarter, compared to analysts’ expectations of $143.86 million. During the same period last year, the business earned $1.19 earnings per share. Piper Jaffray Cos.’s revenue was up 2.0% compared to the same quarter last year. Analysts forecast that Piper Jaffray Cos. will post $0.81 earnings per share for the current year.
Separately, TheStreet raised shares of Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Piper Jaffray Cos. currently has an average rating of “Hold” and an average target price of $45.00.
In other Piper Jaffray Cos. news, insider Thomas Gregory Smith sold 2,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $41.42, for a total transaction of $103,550.00. Following the completion of the transaction, the insider now owns 13,751 shares of the company’s stock, valued at $569,566.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher D. Crawshaw sold 21,737 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $41.45, for a total transaction of $900,998.65. Following the transaction, the insider now directly owns 56,651 shares of the company’s stock, valued at approximately $2,348,183.95. The disclosure for this sale can be found here. Corporate insiders own 6.46% of the company’s stock.
Piper Jaffray Cos. Company Profile
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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