State Board of Administration of Florida Retirement System lowered its stake in shares of Piper Jaffray Cos. (NYSE:PJC) by 26.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,039 shares of the company’s stock after selling 2,180 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Piper Jaffray Cos. were worth $228,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake 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 valued at $169,000 after buying an additional 2,258 shares in the last quarter. Eqis Capital Management Inc. boosted its stake 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 valued at $226,000 after buying an additional 572 shares in the last quarter. NorthRock Partners LLC bought a new stake in Piper Jaffray Cos. during the first quarter valued at approximately $492,000. Adams Diversified Equity Fund Inc. bought a new stake in Piper Jaffray Cos. during the second quarter valued at approximately $377,000. Finally, A.R.T. Advisors LLC boosted its stake in 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 valued at $924,000 after buying an additional 8,300 shares in the last quarter. 66.27% of the stock is owned by institutional investors and hedge funds.
Shares of Piper Jaffray Cos. (NYSE:PJC) traded up 0.79% on Tuesday, hitting $50.85. 6,002 shares of the company traded hands. Piper Jaffray Cos. has a 1-year low of $31.66 and a 1-year high of $51.34. The firm’s 50-day moving average is $47.38 and its 200 day moving average is $43.56. The firm has a market capitalization of $773.63 million, a P/E ratio of 33.81 and a beta of 1.55.
Piper Jaffray Cos. (NYSE:PJC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $143.86 million. During the same quarter in the previous year, the business posted $1.19 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Piper Jaffray Cos. will post $0.81 earnings per share for the current fiscal 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 given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $45.00.
In other news, insider Thomas Gregory Smith sold 2,500 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 13,751 shares of the company’s stock, valued at $569,566.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher D. Crawshaw sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $41.88, for a total transaction of $209,400.00. Following the sale, the insider now directly owns 51,651 shares of the company’s stock, valued at $2,163,143.88. 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.
Want to see what other hedge funds are holding PJC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piper Jaffray Cos. (NYSE:PJC).
Receive News & Ratings for Piper Jaffray Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piper Jaffray Cos. and related companies with MarketBeat.com's FREE daily email newsletter.