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 3rd quarter, HoldingsChannel reports. The fund owned 20,925 shares of the company’s stock after selling 2,291 shares during the quarter. Teacher Retirement System of Texas’ holdings in Piper Sandler Companies were worth $7,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Piper Sandler Companies by 9.8% during the second quarter. Invesco Ltd. now owns 694,312 shares of the company’s stock worth $192,977,000 after purchasing an additional 61,808 shares during the period. Geode Capital Management LLC grew its holdings in Piper Sandler Companies by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 400,772 shares of the company’s stock valued at $111,402,000 after buying an additional 9,759 shares in the last quarter. JPMorgan Chase & Co. increased its position in Piper Sandler Companies by 1.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 290,357 shares of the company’s stock worth $80,702,000 after buying an additional 2,839 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Piper Sandler Companies by 11.6% during the second quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the company’s stock worth $77,696,000 after buying an additional 29,035 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Piper Sandler Companies during the second quarter worth $59,820,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PIPR. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Wolfe Research restated an “outperform” rating and set a $398.00 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Friday. Bank of America assumed coverage on Piper Sandler Companies in a research note on Monday. They issued an “underperform” rating and a $385.00 price target for the company. Finally, The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $368.00 to $386.00 in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $389.67.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $355.87 on Tuesday. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $380.26. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 26.82 and a beta of 1.54. The business’s fifty day moving average is $346.96 and its 200-day moving average is $336.25.

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

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Tuesday, November 25th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio is currently 21.10%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 2,500 shares of the firm’s 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 sale, the president owned 2,896 shares in the company, valued at $956,635.68. This trade represents a 46.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Katherine Patricia Clune sold 1,367 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 10,425 shares of the company’s stock, valued at $3,384,893.25. This trade represents a 11.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,267 shares of company stock valued at $3,763,746 in the last quarter. Insiders own 2.70% of the company’s stock.

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.