Wells Fargo & Company MN Increases Stake in Piper Jaffray Companies (PJC)

Wells Fargo & Company MN increased its position in shares of Piper Jaffray Companies (NYSE:PJC) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,225 shares of the financial services provider’s stock after buying an additional 1,251 shares during the period. Wells Fargo & Company MN’s holdings in Piper Jaffray Companies were worth $4,753,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Piper Jaffray Companies by 3.1% during the fourth quarter. BlackRock Inc. now owns 1,903,946 shares of the financial services provider’s stock valued at $164,215,000 after buying an additional 57,356 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Piper Jaffray Companies by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 279,996 shares of the financial services provider’s stock valued at $24,149,000 after buying an additional 5,340 shares during the period. Geode Capital Management LLC increased its stake in shares of Piper Jaffray Companies by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 184,105 shares of the financial services provider’s stock valued at $15,878,000 after buying an additional 13,245 shares during the period. Deutsche Bank AG increased its stake in shares of Piper Jaffray Companies by 197.5% during the fourth quarter. Deutsche Bank AG now owns 150,956 shares of the financial services provider’s stock valued at $13,018,000 after buying an additional 100,210 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Piper Jaffray Companies by 83.6% during the fourth quarter. Renaissance Technologies LLC now owns 131,100 shares of the financial services provider’s stock valued at $11,307,000 after buying an additional 59,700 shares during the period. Hedge funds and other institutional investors own 72.59% of the company’s stock.

Piper Jaffray Companies opened at $76.85 on Monday, according to Marketbeat. Piper Jaffray Companies has a 1 year low of $52.75 and a 1 year high of $99.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.10 and a current ratio of 1.54. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 11.45 and a beta of 1.58.

Piper Jaffray Companies (NYSE:PJC) last posted its earnings results on Friday, April 27th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.30). Piper Jaffray Companies had a negative net margin of 8.69% and a positive return on equity of 11.88%. The company had revenue of $169.06 million during the quarter.

The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $1.50 annualized dividend and a yield of 1.95%.

Several brokerages have recently commented on PJC. TheStreet upgraded Piper Jaffray Companies from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. ValuEngine upgraded Piper Jaffray Companies from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Finally, Keefe, Bruyette & Woods lowered Piper Jaffray Companies from an “outperform” rating to a “market perform” rating in a research note on Monday, April 30th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.00.

About Piper Jaffray Companies

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.

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

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