AHL Partners LLP Grows Holdings in Piper Jaffray Companies (PJC)

AHL Partners LLP grew its position in shares of Piper Jaffray Companies (NYSE:PJC) by 61.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,553 shares of the financial services provider’s stock after purchasing an additional 4,757 shares during the quarter. AHL Partners LLP owned approximately 0.08% of Piper Jaffray Companies worth $753,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake 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 worth $115,713,000 after acquiring an additional 1,808,437 shares during the period. Renaissance Technologies LLC lifted its stake 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 worth $7,183,000 after acquiring an additional 83,200 shares during the period. Vanguard Group Inc. lifted its stake 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 worth $82,473,000 after acquiring an additional 67,880 shares during the period. AJO LP bought a new stake in Piper Jaffray Companies in the second quarter worth approximately $3,712,000. Finally, JPMorgan Chase & Co. increased its holdings in Piper Jaffray Companies by 25.8% in the second quarter. JPMorgan Chase & Co. now owns 220,942 shares of the financial services provider’s stock worth $13,245,000 after purchasing an additional 45,253 shares in the last quarter. 66.13% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities research analysts have weighed in on the company. BidaskClub upgraded Piper Jaffray Companies from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Keefe, Bruyette & Woods began coverage on Piper Jaffray Companies in a report on Monday, October 16th. They issued a “mkt perform” rating and a $64.00 target price for the company. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus target price of $27.79.

Piper Jaffray Companies (NYSE PJC) opened at 66.30 on Friday. The stock has a market cap of $1.00 billion, a PE ratio of 298.65 and a beta of 1.45. The company’s 50 day moving average price is $58.42 and its 200 day moving average price is $59.78. Piper Jaffray Companies has a 12 month low of $52.75 and a 12 month high of $81.85.

Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.06 by $1.07. Piper Jaffray Companies had a positive return on equity of 10.99% and a negative net margin of 6.30%. The company had revenue of $240.57 million for the quarter. Equities analysts forecast that Piper Jaffray Companies will post $5.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, November 28th. Piper Jaffray Companies’s payout ratio is currently -26.54%.

Piper Jaffray Companies declared that its Board of Directors has authorized a share buyback plan on Thursday, August 10th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 17.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, insider Thomas Gregory Smith sold 1,500 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $62.46, for a total transaction of $93,690.00. Following the sale, the insider now directly owns 15,279 shares of the company’s stock, valued at approximately $954,326.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $519,893.20. Following the completion of the transaction, the insider now directly owns 26,583 shares in the company, valued at $1,692,007.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,988 shares of company stock worth $633,903. Corporate insiders own 5.36% of the company’s stock.

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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