Piper Jaffray Companies (NYSE:PJC) announced its earnings results on Thursday. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $1.07, Bloomberg Earnings reports. Piper Jaffray Companies had a net margin of 0.40% and a return on equity of 9.63%.
Piper Jaffray Companies (NYSE PJC) traded up 3.60% on Thursday, hitting $64.80. 153,613 shares of the company’s stock traded hands. The stock has a market cap of $979.39 million, a P/E ratio of 291.89 and a beta of 1.45. Piper Jaffray Companies has a 12 month low of $52.75 and a 12 month high of $81.85. The stock has a 50 day moving average price of $58.42 and a 200-day moving average price of $59.78.
PJC has been the topic of a number of recent analyst reports. BidaskClub raised shares of Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Keefe, Bruyette & Woods started coverage on shares of Piper Jaffray Companies in a research note on Monday, October 16th. They set a “mkt perform” rating and a $64.00 price target on the stock. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company has an average rating of “Sell” and an average price target of $27.79.
Piper Jaffray Companies declared that its board has approved a stock repurchase program on Thursday, August 10th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 17.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other news, insider Martin Bradley Winges sold 3,000 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $64.42, for a total transaction of $193,260.00. Following the completion of the transaction, the insider now directly owns 46,133 shares in the company, valued at approximately $2,971,887.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher D. Crawshaw sold 8,168 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $63.65, for a total value of $519,893.20. Following the transaction, the insider now owns 26,583 shares of the company’s stock, valued at $1,692,007.95. The disclosure for this sale can be found here. Insiders have sold a total of 12,988 shares of company stock valued at $827,163 over the last quarter. Corporate insiders own 5.36% of the company’s stock.
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.