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PJC $79.62

PJC target price
79.62
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0
Piper Jaffray Companies
Type
Public
Traded as NYSE: PJC
S&P 600 Component
Industry Financial Services
Founded Minneapolis, Minnesota
1895; 122 years ago (1895)
Headquarters Minneapolis, Minnesota, United States
Key people

Andrew S. Duff, Chairman and CEO

Stuart C. Harvey, Jr. President and COO
Products Investment Banking, Public Finance, Asset Management, Equity Sales & Trading, Fixed Income Services, Equity and Debt Capital Markets, Investment Research
Revenue $747.3 Million (2016)
Number of employees
1,300
Website www.piperjaffray.com

Andrew S. Duff, Chairman and CEO

Piper Jaffray Companies (NYSE: PJC) is a full-service investment bank and asset management firm focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management and securities research. Through its principal subsidiary, Piper Jaffray & Co., the company targets corporations, institutional investors, and public entities.

Based in Minneapolis, Minnesota, Piper Jaffray has 55 offices in the U.S., Europe and Asia. The company was founded in 1895.

Piper Jaffray was named one of America's 50 Most Trustworthy Financial Companies by Forbes magazine in 2015 and 2017. Piper Jaffray was also named 2014 Investment Bank of the Year by Mergers & Acquisitions Journal.

Piper Jaffray traces its roots to 1895, when George Lane established George B. Lane, Commercial Paper and Collateral Loans & Co., a commercial paper brokerage, in Minneapolis. In 1913, Piper, Jaffray Co. was established as another commercial paper business by H.C. Piper Sr. and Clive Palmer (C.P. or Palmer) Jaffray. In 1917, George B. Lane & Co. merged with Piper, Jaffray & Co. to form Lane, Piper & Jaffray.

The firm first obtained a seat on the New York Stock Exchange in 1931 with the acquisition of Hopwood & Company, which had been devastated by the stock market crash. In 1971, Piper first offered stock to the public and became a publicly held corporation known as Piper, Jaffray & Hopwood Incorporated. Later, in 1986, Piper's common stock began trading on the NASDAQ under the ticker symbol PIPR. In 1997, the firm was acquired by U.S. Bancorp, also based in Minneapolis, for $730 million in cash. From 1999 to 2003, the firm was known as U.S. Bancorp Piper Jaffray. In 2003, U.S. Bancorp spun off Piper Jaffray in a stock dividend to its shareholders, making the company independent once again under the symbol PJC. In 2006, the company sold its brokerage business to Zurich-based UBS for $510 million in cash. The business had approximately 800 brokers at that time.

Piper Jaffray operates principally through the following business segments:

Within its investment banking division, Piper Jaffray provides advisory and financing services involving:

In 2013, Piper Jaffray was recognized for the second year in a row as the top healthcare investment bank by Global Finance Magazine.

In February 2016, Piper Jaffray acquired Houston-based energy firm Simmons & Company International for a total consideration of approximately $139 million, consisting of $91 million in cash and $48 million in restricted stock.

Piper Jaffray underwrites debt issuances and provides financial advisory to government and not-for-profit entities. In 2016, the Piper Jaffray public finance group ranked No. 2 for senior-managed underwriting and No. 5 for financial advisory transactions. (by number of issues.)

Piper Jaffray serves institutional investors and corporate clients through the following segments:

Piper Jaffray provides investment management and advisory services to institutional clients in the areas of equity, fixed income, private equity funds, master limited partnership and merchant banking. In 2010, the company acquired Advisory Research, Inc., a Chicago-based asset management firm with approximately $8.8 billion in assets under management. Advisory Research provides U.S., international, global and MLP and energy infrastructure strategies to institutional investors.

Piper Jaffray investment bankers focus on the following sectors:

Piper Jaffray has been recognized six years (2012-2017) for gender diversity on its board of directors by receiving the "W" distinction from 2020 Women on Boards. This designation is given to companies with corporate boards which are at least 20% women.

In 2002, Piper Jaffray was fined $25 million by state and federal regulators to settle charges that it provided biased stock ratings as part of the Global Analyst Research Settlements. Other firms, such as JP Morgan, Goldman Sachs, Merrill Lynch, UBS, Deutsche Bank and Morgan Stanley were fined for similar reasons. The firm agreed to make structural changes relating to its research and investment banking program to restore confidence in its business.

New York Office, 345 Park Ave.

San Francisco Office, 50 California St.

Minneapolis Office, 800 Nicollet Mall

Chicago Office, Hyatt Center

Chicago Office, 300 North LaSalle

London Office, 88 Wood Street

Houston Office, 700 Louisiana St.

Boston Office, 100 Federal Street

Denver Office, Tabor Center

Charlotte Office, Charlotte Hines Plaza

Charlotte Office, Bank of America Plaza

Philadelphia Office, Two Logan Square

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2019 2019-10-30 1.64 1.20
Q2 2019 2019-07-26 1.32 0.87
Q1 2019 2019-04-26 1.57 1.33
Q4 2018 2019-02-01 1.99 1.21
Q3 2018 2018-10-26 1.86 1.34

Ratings

2016-04-15 Downgrade Sandler O'Neill Buy to Hold
2016-02-08 Boost Price Target Macquarie Neutral $42.00 to $44.00
2016-02-05 Boost Price Target Keefe, Bruyette & Woods Market Perform $43.00 to $45.00
2015-12-10 Downgrade Keefe, Bruyette & Woods Outperform to Market Perform $43.00
2015-11-18 Boost Price Target Macquarie Neutral $40.00 to $43.00
2015-10-30 Upgrade Keefe, Bruyette & Woods Market Perform to Outperform
2015-10-07 Lower Price Target Keefe, Bruyette & Woods $51.00 to $43.00
2015-10-02 Lower Price Target Susquehanna Neutral $48.00 to $41.00
2015-09-22 Initiated Coverage Sandler O'Neill Buy $43.00
2015-07-15 Lower Price Target Susquehanna Neutral $50.00 to $47.00
2015-03-19 Initiated Coverage MKM Partners Neutral $60.00
2015-01-26 Upgrade Maxim Group Underperform to Neutral $53.00
2015-01-26 Upgrade Macquarie Underperform to Neutral $53.00
2014-11-25 Initiated Coverage Macquarie Underperform $53.00
2014-10-24 Reiterated Rating Keefe, Bruyette & Woods Market Perform $52.00 to $55.00
2014-04-01 Initiated Coverage SunTrust Neutral
2014-03-31 Initiated Coverage Susquehanna Neutral $41.00
2013-10-17 Boost Price Target Keefe, Bruyette & Woods Market Perform $34.00 to $35.00
2011-04-06 Initiated Ticonderoga Neutral
2010-07-22 Downgrade Maxim Group Buy to Hold
2010-04-22 Reiterated Maxim Group Buy $54 to $50
2008-07-09 Reiterated Friedman Billings Mkt Perform $38 to $31
2008-04-09 Initiated Friedman Billings Mkt Perform $38
2008-03-24 Downgrade Sterne Agee Buy to Sell $40 to $36
2007-11-29 Downgrade Wachovia Outperform to Mkt Perform
2007-07-19 Upgrade Wachovia Mkt Perform to Outperform
2016-04-15 Downgrade Sandler O'Neill Buy to Hold
2016-02-08 Boost Price Target Macquarie Neutral $42.00 to $44.00
2016-02-05 Boost Price Target Keefe, Bruyette & Woods Market Perform $43.00 to $45.00
2015-12-10 Downgrade Keefe, Bruyette & Woods Outperform to Market Perform $43.00
2015-11-18 Boost Price Target Macquarie Neutral $40.00 to $43.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
DUFF ANDREW S Chairman and CEO 1.25%  (202920) ACAT / PJC /
Frazier Michael E 0.99%  (161639) DNOW / PJC /
O'Brien Brien M Head of Asset Management 0.72%  (116616) PJC /
Abraham Chad R Co-Head Global IB 0.34%  (54917) PJC /
Klinefelter Jeffrey P Global Head of Equities 0.34%  (54759) PJC /
Fairman Francis E IV Head, Public Finance Services 0.29%  (47469) PJC /
Winges Martin Bradley Head, Fixed Income Services 0.28%  (46133) PJC /
Schoneman Debbra L. Chief Financial Officer 0.24%  (39054) PJC /
LaRue R Scott Co-Head Global IB 0.24%  (38555) PJC /
PIPER ADDISON L 0.17%  (27240) PJC /
Crawshaw Christopher D Head of Asset Management 0.16%  (26583) PJC /
Smith Thomas Gregory Chief Strategy Officer 0.09%  (15279) PJC /
POLSKY LISA 0.09%  (14254) CIT / PJC /
FITZGERALD WILLIAM R 0.08%  (13249) ASCMA / PJC /
FRANCIS MICHAEL 0.08%  (12751) DWA / PJC /
JOHNSON B KRISTINE 0.07%  (11283) ATRC / PJC / SPNC /
Volpi Michele 0.07%  (10808) PJC /
SORAN PHILIP 0.06%  (9168) HTCH / PJC / SPSC /
Geelan John W General Counsel 0.05%  (8868) PJC /
Woodhouse Hope B 0.05%  (8613) PJC / TWO /
Esckilsen Christine N Chief of Human Capital 0.05%  (8425) PJC /
TAYLOR SCOTT C 0.05%  (8080) PJC / SYMC / VHC /
SMITH SHERRY M 0.03%  (4898) DE / PJC / RLGY / SVU / TUES /
Carter Timothy L Chief Financial Officer 0.03%  (4492) PJC /
CHOSY JAMES L General Counsel 0.02%  (3827) PJC / USB /