Bank of New York Mellon Corp grew its holdings in shares of Piper Jaffray Companies (NYSE:PJC) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,931 shares of the financial services provider’s stock after buying an additional 6,953 shares during the quarter. Bank of New York Mellon Corp owned 1.75% of Piper Jaffray Companies worth $20,436,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PJC. C M Bidwell & Associates Ltd. purchased a new stake in Piper Jaffray Companies in the 1st quarter worth about $179,000. SG Americas Securities LLC purchased a new stake in Piper Jaffray Companies in the 1st quarter worth about $179,000. Xact Kapitalforvaltning AB purchased a new stake in Piper Jaffray Companies in the 1st quarter worth about $222,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Piper Jaffray Companies in the 2nd quarter worth about $232,000. Finally, WINTON GROUP Ltd purchased a new stake in Piper Jaffray Companies in the 1st quarter worth about $270,000. Hedge funds and other institutional investors own 72.73% of the company’s stock.
Piper Jaffray Companies stock opened at $77.00 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.38 and a current ratio of 1.62. Piper Jaffray Companies has a 1-year low of $54.00 and a 1-year high of $99.80. The stock has a market capitalization of $1.11 billion, a P/E ratio of 11.73 and a beta of 1.50.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 1.95%.
A number of research firms recently weighed in on PJC. TheStreet raised shares of Piper Jaffray Companies from a “c+” rating to a “b-” rating in a research report on Wednesday, June 20th. ValuEngine lowered shares of Piper Jaffray Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Four equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average 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.
See Also: Penny Stocks, What You Need To Know
Receive News & Ratings for Piper Jaffray Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piper Jaffray Companies and related companies with MarketBeat.com's FREE daily email newsletter.