Russell Investments Group Ltd. Raises Holdings in Piper Jaffray Companies (NYSE:PJC)

Russell Investments Group Ltd. grew its position in shares of Piper Jaffray Companies (NYSE:PJC) by 74.8% in the second quarter, HoldingsChannel reports. The firm owned 25,787 shares of the financial services provider’s stock after buying an additional 11,031 shares during the quarter. Russell Investments Group Ltd.’s holdings in Piper Jaffray Companies were worth $1,916,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Piper Jaffray Companies by 68.3% in the second quarter. Wells Fargo & Company MN now owns 131,161 shares of the financial services provider’s stock valued at $9,742,000 after purchasing an additional 53,225 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Piper Jaffray Companies in the second quarter valued at approximately $1,834,000. Fisher Asset Management LLC grew its holdings in Piper Jaffray Companies by 17.9% in the second quarter. Fisher Asset Management LLC now owns 123,386 shares of the financial services provider’s stock valued at $9,164,000 after purchasing an additional 18,749 shares during the period. First Trust Advisors LP acquired a new position in Piper Jaffray Companies during the second quarter valued at approximately $891,000. Finally, Dimensional Fund Advisors LP lifted its position in Piper Jaffray Companies by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 609,405 shares of the financial services provider’s stock valued at $40,124,000 after buying an additional 11,613 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.

NYSE PJC traded up $0.73 on Thursday, reaching $78.04. The company’s stock had a trading volume of 642 shares, compared to its average volume of 63,080. Piper Jaffray Companies has a twelve month low of $61.35 and a twelve month high of $82.52. The stock has a market cap of $1.11 billion, a PE ratio of 12.72 and a beta of 1.37. The firm’s 50 day moving average is $73.52 and its two-hundred day moving average is $74.47.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.27. Piper Jaffray Companies had a net margin of 7.80% and a return on equity of 12.54%. The company had revenue of $172.42 million during the quarter, compared to the consensus estimate of $155.26 million. During the same period in the prior year, the company earned $0.92 EPS. As a group, sell-side analysts anticipate that Piper Jaffray Companies will post 6.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, August 22nd. Piper Jaffray Companies’s payout ratio is 24.47%.

Several analysts recently issued reports on PJC shares. Northland Securities reaffirmed a “buy” rating and issued a $89.00 price target on shares of Piper Jaffray Companies in a report on Friday, July 26th. Zacks Investment Research downgraded shares of Piper Jaffray Companies from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd.

Piper Jaffray Companies Profile

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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