TIAA CREF Investment Management LLC Increases Stake in Piper Jaffray (NYSE:PJC)

TIAA CREF Investment Management LLC increased its position in shares of Piper Jaffray (NYSE:PJC) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,450 shares of the financial services provider’s stock after purchasing an additional 566 shares during the period. TIAA CREF Investment Management LLC owned 0.72% of Piper Jaffray worth $7,974,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cutler Group LP grew its position in Piper Jaffray by 505.0% in the fourth quarter. Cutler Group LP now owns 1,215 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,515 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Piper Jaffray by 365.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,823 shares of the financial services provider’s stock worth $108,000 after buying an additional 1,431 shares during the last quarter. SG Americas Securities LLC purchased a new position in Piper Jaffray during the 3rd quarter worth approximately $192,000. Schulhoff & Co. Inc. purchased a new position in Piper Jaffray during the 4th quarter worth approximately $205,000. Finally, Burney Co. purchased a new position in Piper Jaffray during the 4th quarter worth approximately $228,000. 70.18% of the stock is currently owned by hedge funds and other institutional investors.

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PJC stock opened at $83.70 on Thursday. The firm has a market capitalization of $1,273.73, a P/E ratio of 11.80 and a beta of 1.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.15. Piper Jaffray has a 1 year low of $52.75 and a 1 year high of $99.80.

Piper Jaffray (NYSE:PJC) last released its earnings results on Thursday, February 1st. The financial services provider reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.35. The firm had revenue of $236.08 million during the quarter. Piper Jaffray had a negative net margin of 7.30% and a positive return on equity of 11.58%.

Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $86.00 price objective on shares of Piper Jaffray in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.93.

In other news, insider Francis E. Iv Fairman sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $96.13, for a total transaction of $961,300.00. Following the transaction, the insider now owns 51,513 shares in the company, valued at approximately $4,951,944.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew S. Duff sold 50,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $93.44, for a total transaction of $4,672,000.00. Following the completion of the sale, the director now directly owns 238,248 shares in the company, valued at approximately $22,261,893.12. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

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Piper Jaffray Profile

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.

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

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