Today: Today, Jennison Associates LLC Reached $1,132,000 position of Piper Jaffray Cos. (PJC)

Today, Jennison Associates LLC Reached $1,132,000 position  of Piper Jaffray Cos. (PJC)

Jennison Associates LLC cut its stake in shares of Piper Jaffray Cos. (NYSE:PJC) by 2.2% during the third quarter, Holdings Channel reports. The fund owned 23,445 shares of the company’s stock after selling 533 shares during the period. Jennison Associates LLC owned 0.19% of Piper Jaffray Cos. worth $1,132,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund boosted its stake in shares of Piper Jaffray Cos. by 0.6% in the third quarter. Texas Permanent School Fund now owns 10,895 shares of the company’s stock valued at $526,000 after buying an additional 66 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Piper Jaffray Cos. by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 20,780 shares of the company’s stock valued at $783,000 after buying an additional 80 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of Piper Jaffray Cos. by 1.5% in the second quarter. BlackRock Advisors LLC now owns 7,753 shares of the company’s stock valued at $292,000 after buying an additional 112 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Piper Jaffray Cos. by 3.6% in the third quarter. Eqis Capital Management Inc. now owns 6,206 shares of the company’s stock valued at $300,000 after buying an additional 217 shares during the last quarter. Finally, Convergence Investment Partners LLC boosted its stake in shares of Piper Jaffray Cos. by 0.9% in the second quarter. Convergence Investment Partners LLC now owns 25,262 shares of the company’s stock valued at $952,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 66.87% of the company’s stock.

Piper Jaffray Cos. (NYSE:PJC) opened at 69.05 on Friday. Piper Jaffray Cos. has a 52 week low of $31.66 and a 52 week high of $69.55. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 36.65 and a beta of 1.47. The firm has a 50-day moving average price of $57.18 and a 200 day moving average price of $46.27.

Piper Jaffray Cos. (NYSE:PJC) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.44. The company had revenue of $199 million for the quarter, compared to analysts’ expectations of $163.56 million. Piper Jaffray Cos. had a return on equity of 6.95% and a net margin of 3.32%. Piper Jaffray Cos.’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. On average, equities research analysts forecast that Piper Jaffray Cos. will post $4.60 earnings per share for the current fiscal year.

Separately, TheStreet raised Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $45.00.

In related news, Chairman Andrew S. Duff sold 32,149 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $65.44, for a total transaction of $2,103,830.56. Following the transaction, the chairman now directly owns 276,386 shares in the company, valued at approximately $18,086,699.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Debbra L. Schoneman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $65.54, for a total value of $655,400.00. Following the transaction, the chief financial officer now owns 44,964 shares in the company, valued at $2,946,940.56. The disclosure for this sale can be found here. Corporate insiders own 6.46% of the company’s stock.

Piper Jaffray Cos. Company Profile

Piper Jaffray Companies is an investment bank and asset management company, which serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services, including equity and debt capital markets products, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research, and asset management services.

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