Piper Jaffray Companies (NYSE:PJC) Receives $21.75 Consensus Target Price from Brokerages

Shares of Piper Jaffray Companies (NYSE:PJC) have earned an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.75.

Several equities analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of Piper Jaffray Companies from $19.00 to $22.50 and gave the stock a “sector perform” rating in a research note on Friday, April 28th. BidaskClub raised shares of Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. CIBC lifted their price objective on shares of Piper Jaffray Companies from $19.00 to $22.00 in a research note on Friday, April 28th. National Bank Financial lifted their price objective on shares of Piper Jaffray Companies from $22.00 to $25.00 in a research note on Friday, April 28th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $21.00 target price on shares of Piper Jaffray Companies in a research report on Friday, April 28th.

In related news, insider Martin Bradley Winges sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $64.42, for a total transaction of $193,260.00. Following the completion of the sale, the insider now directly owns 46,133 shares in the company, valued at $2,971,887.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Gregory Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $62.46, for a total transaction of $93,690.00. Following the sale, the insider now owns 15,279 shares of the company’s stock, valued at $954,326.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,988 shares of company stock worth $827,163. 5.36% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Piper Jaffray Companies by 47,403.3% in the first quarter. BlackRock Inc. now owns 1,812,252 shares of the financial services provider’s stock worth $115,713,000 after buying an additional 1,808,437 shares during the period. Norges Bank acquired a new stake in Piper Jaffray Companies during the fourth quarter worth about $15,292,000. Renaissance Technologies LLC boosted its stake in Piper Jaffray Companies by 284.0% in the first quarter. Renaissance Technologies LLC now owns 112,500 shares of the financial services provider’s stock worth $7,183,000 after buying an additional 83,200 shares during the period. Vanguard Group Inc. boosted its stake in Piper Jaffray Companies by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,291,674 shares of the financial services provider’s stock worth $82,473,000 after buying an additional 67,880 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Piper Jaffray Companies by 25.8% in the second quarter. JPMorgan Chase & Co. now owns 220,942 shares of the financial services provider’s stock worth $13,245,000 after buying an additional 45,253 shares during the period. Hedge funds and other institutional investors own 78.35% of the company’s stock.

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Piper Jaffray Companies (NYSE PJC) opened at 58.00 on Monday. Piper Jaffray Companies has a 52-week low of $42.12 and a 52-week high of $81.85. The firm has a market capitalization of $746.63 million, a P/E ratio of 261.26 and a beta of 1.45. The company has a 50 day moving average price of $62.23 and a 200 day moving average price of $64.56.

Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.29. The company had revenue of $197.75 million for the quarter. Piper Jaffray Companies had a net margin of 0.40% and a return on equity of 9.63%. On average, equities analysts forecast that Piper Jaffray Companies will post $5.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, August 24th. Piper Jaffray Companies’s dividend payout ratio (DPR) is currently -1,249.88%.

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.

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