Piper Sandler Companies $PIPR Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,120 shares of the financial services provider’s stock after selling 2,729 shares during the period. New York State Teachers Retirement System owned about 0.14% of Piper Sandler Companies worth $8,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PIPR. AQR Capital Management LLC raised its position in Piper Sandler Companies by 20.7% during the first quarter. AQR Capital Management LLC now owns 5,572 shares of the financial services provider’s stock worth $1,380,000 after acquiring an additional 956 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Piper Sandler Companies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the financial services provider’s stock valued at $2,563,000 after purchasing an additional 473 shares during the period. United Services Automobile Association purchased a new stake in shares of Piper Sandler Companies during the first quarter worth about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Piper Sandler Companies by 0.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the financial services provider’s stock worth $10,977,000 after purchasing an additional 177 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Piper Sandler Companies by 46.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the completion of the sale, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. This represents a 46.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Katherine Patricia Clune sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $324.69, for a total transaction of $443,851.23. Following the sale, the chief financial officer owned 10,425 shares of the company’s stock, valued at $3,384,893.25. This represents a 11.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,267 shares of company stock worth $3,763,746 in the last ninety days. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Wolfe Research reaffirmed an “outperform” rating and set a $398.00 target price on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Piper Sandler Companies currently has a consensus rating of “Hold” and a consensus price target of $392.00.

Piper Sandler Companies Stock Up 3.9%

Shares of NYSE:PIPR opened at $374.90 on Friday. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $377.01. The stock has a market cap of $6.63 billion, a P/E ratio of 28.25 and a beta of 1.54. The business has a fifty day moving average of $344.16 and a two-hundred day moving average of $333.69.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $2.96 by $0.86. The business had revenue of $455.31 million for the quarter, compared to analyst estimates of $408.40 million. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.57 EPS. On average, equities analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a yield of 0.7%. Piper Sandler Companies’s payout ratio is 21.10%.

About Piper Sandler Companies

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.