Piper Jaffray Companies (NYSE:PJC) Shares Bought by California Public Employees Retirement System

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California Public Employees Retirement System raised its holdings in Piper Jaffray Companies (NYSE:PJC) by 22.7% in the first quarter, Holdings Channel reports. The institutional investor owned 30,285 shares of the financial services provider’s stock after acquiring an additional 5,597 shares during the quarter. California Public Employees Retirement System’s holdings in Piper Jaffray Companies were worth $2,206,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PJC. BlackRock Inc. raised its position in Piper Jaffray Companies by 1.0% during the fourth quarter. BlackRock Inc. now owns 2,248,518 shares of the financial services provider’s stock valued at $148,044,000 after acquiring an additional 21,938 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Piper Jaffray Companies by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 609,405 shares of the financial services provider’s stock valued at $40,124,000 after purchasing an additional 11,613 shares during the period. Victory Capital Management Inc. grew its holdings in Piper Jaffray Companies by 1.5% in the first quarter. Victory Capital Management Inc. now owns 295,508 shares of the financial services provider’s stock valued at $21,522,000 after purchasing an additional 4,238 shares during the period. Geode Capital Management LLC grew its holdings in Piper Jaffray Companies by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 194,682 shares of the financial services provider’s stock valued at $12,817,000 after purchasing an additional 2,523 shares during the period. Finally, Norges Bank acquired a new stake in Piper Jaffray Companies in the fourth quarter valued at approximately $12,217,000. Institutional investors own 76.35% of the company’s stock.

Shares of PJC opened at $74.28 on Tuesday. Piper Jaffray Companies has a 12 month low of $61.35 and a 12 month high of $82.52. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 12.12 and a beta of 1.41.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.20 by $0.37. The company had revenue of $191.83 million for the quarter, compared to analyst estimates of $174.65 million. Piper Jaffray Companies had a return on equity of 11.62% and a net margin of 7.16%. Equities research analysts anticipate that Piper Jaffray Companies will post 6.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 23rd. Piper Jaffray Companies’s dividend payout ratio is presently 24.47%.

PJC has been the topic of several research analyst reports. ValuEngine lowered Piper Jaffray Companies from a “hold” rating to a “sell” rating in a report on Monday, February 25th. TheStreet raised Piper Jaffray Companies from a “c” rating to a “b” rating in a report on Wednesday, March 13th. Finally, Zacks Investment Research raised Piper Jaffray Companies from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Wednesday, May 22nd.

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Piper Jaffray Companies Profile

Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

Further Reading: What does a hold rating mean?

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 Companies (NYSE:PJC).

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

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