JPMorgan Chase & Co. Cuts Stake in Piper Jaffray Companies (PJC)

JPMorgan Chase & Co. lowered its stake in shares of Piper Jaffray Companies (NYSE:PJC) by 6.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 205,705 shares of the financial services provider’s stock after selling 15,237 shares during the period. JPMorgan Chase & Co. owned approximately 1.59% of Piper Jaffray Companies worth $12,085,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PJC. Farmers & Merchants Investments Inc. increased its holdings in Piper Jaffray Companies by 93.0% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,090 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 1,007 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Piper Jaffray Companies by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,842 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 10 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Piper Jaffray Companies in the 3rd quarter worth approximately $192,000. Airain ltd increased its holdings in Piper Jaffray Companies by 23.1% in the 2nd quarter. Airain ltd now owns 4,505 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 845 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Piper Jaffray Companies by 57.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,310 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 1,940 shares in the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.

A number of equities research analysts have issued reports on PJC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $86.00 price objective on shares of Piper Jaffray Companies in a report on Friday, December 22nd. JMP Securities started coverage on shares of Piper Jaffray Companies in a report on Tuesday, November 7th. They set a “market perform” rating for the company. Finally, Desjardins raised shares of Piper Jaffray Companies from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.93.

Shares of Piper Jaffray Companies (NYSE PJC) traded up $1.05 on Friday, reaching $91.90. The company had a trading volume of 64,991 shares, compared to its average volume of 93,605. The company has a market capitalization of $1,372.67, a P/E ratio of -19.51 and a beta of 1.58. Piper Jaffray Companies has a 12 month low of $52.75 and a 12 month high of $92.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.15 and a current ratio of 1.48.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $1.07. Piper Jaffray Companies had a positive return on equity of 11.11% and a negative net margin of 6.30%. The company had revenue of $240.57 million during the quarter.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th were given a dividend of $0.3125 per share. The ex-dividend date was Tuesday, November 28th. This represents a $1.25 annualized dividend and a dividend yield of 1.36%. Piper Jaffray Companies’s dividend payout ratio (DPR) is -26.54%.

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About Piper Jaffray Companies

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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