Comerica Bank Buys 773 Shares of Piper Jaffray Companies (PJC)

Comerica Bank increased its stake in shares of Piper Jaffray Companies (NYSE:PJC) by 5.4% during the fourth quarter, Holdings Channel reports. The fund owned 15,174 shares of the company’s stock after buying an additional 773 shares during the period. Comerica Bank’s holdings in Piper Jaffray Companies were worth $1,052,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Eqis Capital Management Inc. boosted its stake in Piper Jaffray Companies by 3.6% in the third quarter. Eqis Capital Management Inc. now owns 6,206 shares of the company’s stock worth $300,000 after buying an additional 217 shares in the last quarter. 1st Global Advisors Inc. acquired a new stake in Piper Jaffray Companies during the third quarter worth $292,000. Boston Advisors LLC acquired a new stake in Piper Jaffray Companies during the third quarter worth $2,738,000. Great West Life Assurance Co. Can boosted its stake in Piper Jaffray Companies by 2.2% in the third quarter. Great West Life Assurance Co. Can now owns 18,883 shares of the company’s stock worth $912,000 after buying an additional 402 shares in the last quarter. Finally, Texas Permanent School Fund boosted its stake in Piper Jaffray Companies by 0.6% in the third quarter. Texas Permanent School Fund now owns 10,895 shares of the company’s stock worth $526,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.

Institutional Ownership by Quarter for Piper Jaffray Companies (NYSE:PJC)

Shares of Piper Jaffray Companies (NYSE:PJC) opened at 63.15 on Friday. The stock’s 50 day moving average price is $71.75 and its 200-day moving average price is $64.28. The firm’s market cap is $957.61 million. Piper Jaffray Companies has a 52-week low of $35.36 and a 52-week high of $81.85.

Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.40. Piper Jaffray Companies had a negative net margin of 3.17% and a positive return on equity of 7.24%. The firm earned $217.88 million during the quarter, compared to analysts’ expectations of $202.13 million. During the same period in the prior year, the company earned $1.40 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Piper Jaffray Companies will post $5.39 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, February 20th were given a $0.3125 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $1.25 dividend on an annualized basis and a yield of 1.98%.

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Separately, TheStreet cut Piper Jaffray Companies from a “b” rating to a “c+” rating in a research note on Thursday, February 2nd.

In other news, insider Christopher D. Crawshaw sold 10,000 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $79.12, for a total value of $791,200.00. Following the sale, the insider now owns 41,651 shares in the company, valued at approximately $3,295,427.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Francis E. Iv Fairman sold 12,496 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $75.34, for a total transaction of $941,448.64. Following the completion of the sale, the insider now owns 64,666 shares in the company, valued at approximately $4,871,936.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,637 shares of company stock valued at $3,258,308. 6.46% of the stock is currently owned by corporate insiders.

Piper Jaffray Companies 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.

5 Day Chart for NYSE:PJC

Want to see what other hedge funds are holding PJC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piper Jaffray Companies (NYSE:PJC).

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