Ellington Management Group LLC bought a new position in Piper Jaffray Companies (NYSE:PJC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,000 shares of the financial services provider’s stock, valued at approximately $604,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cutler Group LP boosted its position in Piper Jaffray Companies by 505.0% in the fourth quarter. Cutler Group LP now owns 1,215 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,515 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Piper Jaffray Companies by 365.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,823 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 1,431 shares during the period. SG Americas Securities LLC bought a new stake in Piper Jaffray Companies during the 3rd quarter valued at approximately $192,000. Schulhoff & Co. Inc. purchased a new position in Piper Jaffray Companies during the 4th quarter valued at approximately $205,000. Finally, Burney Co. purchased a new position in Piper Jaffray Companies during the 4th quarter valued at approximately $228,000. 70.10% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $86.00 target price on shares of Piper Jaffray Companies in a report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.93.
In related news, insider Francis E. Iv Fairman sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $96.13, for a total value of $961,300.00. Following the completion of the transaction, the insider now directly owns 51,513 shares in the company, valued at $4,951,944.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew S. Duff sold 50,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $93.44, for a total value of $4,672,000.00. Following the completion of the transaction, the director now owns 238,248 shares of the company’s stock, valued at $22,261,893.12. The disclosure for this sale can be found here. 5.36% of the stock is currently owned by company insiders.
Shares of Piper Jaffray Companies (NYSE PJC) opened at $87.85 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.15 and a current ratio of 1.35. The firm has a market capitalization of $1,339.09, a PE ratio of -16.45 and a beta of 1.48. Piper Jaffray Companies has a one year low of $52.75 and a one year high of $99.80.
Piper Jaffray Companies (NYSE:PJC) last issued its earnings results on Thursday, February 1st. The financial services provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.35. The firm had revenue of $236.08 million for the quarter. Piper Jaffray Companies had a positive return on equity of 11.58% and a negative net margin of 7.30%.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, February 26th will be issued a dividend of $0.375 per share. The ex-dividend date is Friday, February 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.71%. This is a boost from Piper Jaffray Companies’s previous quarterly dividend of $0.31. Piper Jaffray Companies’s dividend payout ratio is presently -28.09%.
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Piper Jaffray Companies 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.
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