Teacher Retirement System of Texas Has $7.26 Million Stock Position in Piper Sandler Companies $PIPR

Teacher Retirement System of Texas cut its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,925 shares of the company’s stock after selling 2,291 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of Piper Sandler Companies worth $7,261,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PIPR. Norges Bank acquired a new position in shares of Piper Sandler Companies during the 2nd quarter worth about $59,820,000. American Century Companies Inc. boosted its stake in Piper Sandler Companies by 1,155.7% during the 2nd quarter. American Century Companies Inc. now owns 200,149 shares of the company’s stock worth $55,630,000 after acquiring an additional 184,210 shares during the last quarter. Franklin Resources Inc. acquired a new position in Piper Sandler Companies during the second quarter valued at approximately $51,021,000. Greenwich Wealth Management LLC increased its stake in Piper Sandler Companies by 415.1% in the second quarter. Greenwich Wealth Management LLC now owns 104,200 shares of the company’s stock valued at $28,961,000 after purchasing an additional 83,971 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Piper Sandler Companies by 9.8% in the second quarter. Invesco Ltd. now owns 694,312 shares of the company’s stock valued at $192,977,000 after purchasing an additional 61,808 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PIPR. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $368.00 to $386.00 in a report on Monday, November 10th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Wolfe Research reiterated an “outperform” rating and set a $398.00 price objective on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Piper Sandler Companies has an average rating of “Hold” and a consensus target price of $389.67.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $355.87 on Tuesday. The stock has a market capitalization of $6.30 billion, a PE ratio of 26.82 and a beta of 1.54. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $380.26. The stock has a 50 day moving average price of $346.96 and a 200 day moving average price of $336.25.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 31st. The company reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.86. The firm had revenue of $455.31 million for the quarter, compared to analyst estimates of $408.40 million. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 earnings per share.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Tuesday, November 25th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio (DPR) is 21.10%.

Insiders Place Their Bets

In other Piper Sandler Companies news, CFO Katherine Patricia Clune sold 1,367 shares of the company’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 value of $443,851.23. Following the sale, the chief financial officer owned 10,425 shares in the company, valued at $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Debbra L. Schoneman sold 2,500 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total value of $825,825.00. Following the transaction, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. This represents a 46.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,267 shares of company stock valued at $3,763,746 over the last 90 days. 2.70% of the stock is currently owned by insiders.

Piper Sandler Companies Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.