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

New York State Teachers Retirement System reduced its stake in Piper Sandler Companies (NYSE:PIPR) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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’s holdings in Piper Sandler Companies were worth $8,369,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Oliver Luxxe Assets LLC increased its position in shares of Piper Sandler Companies by 2.1% during the third quarter. Oliver Luxxe Assets LLC now owns 9,916 shares of the financial services provider’s stock valued at $3,441,000 after acquiring an additional 201 shares during the last quarter. Forum Financial Management LP purchased a new position in shares of Piper Sandler Companies during the 3rd quarter worth approximately $229,000. Kesler Norman & Wride LLC acquired a new stake in Piper Sandler Companies in the 3rd quarter valued at approximately $871,000. Benjamin Edwards Inc. increased its holdings in Piper Sandler Companies by 19.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,434 shares of the financial services provider’s stock valued at $845,000 after purchasing an additional 402 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Piper Sandler Companies by 250.0% in the third quarter. SG Americas Securities LLC now owns 2,891 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 2,065 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR opened at $374.90 on Friday. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 28.25 and a beta of 1.54. The stock’s 50-day moving average is $344.16 and its two-hundred day moving average is $333.69. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $377.01.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $408.40 million. During the same quarter last year, the business posted $2.57 EPS. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. Equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 3,000 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $336.21, for a total value of $1,008,630.00. Following the sale, the chief executive officer directly owned 53,558 shares of the company’s stock, valued at approximately $18,006,735.18. This represents a 5.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Debbra L. Schoneman sold 2,500 shares of Piper Sandler Companies stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total transaction of $825,825.00. Following the sale, the president directly owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. This trade represents a 46.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 11,267 shares of company stock valued at $3,763,746. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.