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Piper Jaffray Companies Buyback

OLI recorded this information on 8/10/2017

Company: Piper Jaffray Companies
Buyback: PJC buyback
$Amount Authorized: $150,000,000
Buyback Details: Piper Jaffray Companies (NYSE:PJC) today announced that its board of directors has authorized the repurchase of up to $150.0 million of the company's outstanding common stock. The share repurchase program will be used as part of the company's capital allocation strategy, which includes returning capital to its shareholders, and to offset the dilutive effect of employee equity-based compensation. The authorization becomes effective on September 30, 2017, at the same time that the company's existing $150.0 million repurchase authorization expires. The company currently has approximately $69.8 million available for future repurchases under the existing authorization. The new $150.0 million authorization will expire on September 30, 2019. As of July 26, 2017, the company had 15,114,175 million shares of common stock outstanding.

Piper Jaffray is holding company. Through its subsidiaries, Co. is an investment bank and asset management firm. Co. provides products and services, such as financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income institutional brokerage, and asset management services. Co.'s segments are: Capital Markets, which provides investment banking and institutional sales, trading and research services for various equity and fixed income products; and Asset Management, which includes Co.'s asset management business and its investments in registered funds and private funds or partnerships that Co. manages.
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Company Name: 
Piper Sandler Companies
Stock buyback: 
PJC buyback
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Strong Buy (4.00 out of 4)
100th percentile
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