Russell Investments Group Ltd. grew its stake in Piper Jaffray Companies (NYSE:PJC) by 341.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,555 shares of the financial services provider’s stock after acquiring an additional 53,010 shares during the period. Russell Investments Group Ltd. owned 0.45% of Piper Jaffray Companies worth $5,660,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of PJC. Schwab Charles Investment Management Inc. grew its stake in Piper Jaffray Companies by 2.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 72,735 shares of the financial services provider’s stock worth $6,274,000 after acquiring an additional 1,571 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Piper Jaffray Companies in the 4th quarter worth about $429,000. California Public Employees Retirement System grew its stake in Piper Jaffray Companies by 15.6% in the 4th quarter. California Public Employees Retirement System now owns 46,115 shares of the financial services provider’s stock worth $3,977,000 after acquiring an additional 6,207 shares in the last quarter. Wells Fargo & Company MN grew its stake in Piper Jaffray Companies by 129.9% in the 4th quarter. Wells Fargo & Company MN now owns 55,974 shares of the financial services provider’s stock worth $4,827,000 after acquiring an additional 31,630 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Piper Jaffray Companies by 222.4% in the 4th quarter. Arizona State Retirement System now owns 23,871 shares of the financial services provider’s stock worth $2,059,000 after acquiring an additional 16,466 shares in the last quarter. Institutional investors and hedge funds own 72.59% of the company’s stock.
Shares of Piper Jaffray Companies opened at $77.75 on Wednesday, MarketBeat.com reports. 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 $1.18 billion, a price-to-earnings ratio of 11.56 and a beta of 1.58. Piper Jaffray Companies has a one year low of $52.75 and a one year high of $99.80.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, May 25th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.93%.
PJC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods downgraded shares of Piper Jaffray Companies from an “outperform” rating to a “market perform” rating in a research note on Monday, April 30th. TheStreet upgraded shares of Piper Jaffray Companies from a “c+” rating to a “b-” rating in a research note on Friday, April 27th. Finally, ValuEngine upgraded shares of Piper Jaffray Companies from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has an average 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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