Arizona State Retirement System Invests $1.39 Million in Piper Sandler Companies $PIPR

Key Points

• Arizona State Retirement System acquired 19,179 shares of Piper Sandler Companies worth approximately $1.39 million in the second quarter. Institutional investors collectively own 72.79% of PIPR.
• Piper Sandler reported quarterly revenue of $491.14 million, up 24.9% year over year, and EPS of $1.04, beating analyst expectations of $0.88. Analysts currently have a consensus “Hold” rating and an average price target of $95.06.
• PIPR shares opened at $73.06, below their 50-day and 200-day moving averages, while the company maintains a quarterly dividend of $0.20 per share, representing a 1.1% yield.

Arizona State Retirement System purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 19,179 shares of the company's stock, valued at approximately $1,387,000.

Several other large investors have also made changes to their positions in PIPR. EverSource Wealth Advisors LLC lifted its stake in shares of Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Piper Sandler Companies by 296.5% during the 1st quarter. Sterling Capital Management LLC now owns 452 shares of the company's stock worth $35,000 after acquiring an additional 338 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of Piper Sandler Companies during the 2nd quarter valued at about $37,000. Global Retirement Partners LLC increased its holdings in shares of Piper Sandler Companies by 4,175.0% during the 4th quarter. Global Retirement Partners LLC now owns 171 shares of the company's stock valued at $58,000 after acquiring an additional 167 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Piper Sandler Companies by 544.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 174 shares of the company's stock worth $59,000 after purchasing an additional 147 shares during the period. Institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Piper Sandler Companies in a research report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.06.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $73.06 on Wednesday. The company has a 50-day moving average of $75.46 and a 200-day moving average of $77.62. Piper Sandler Companies has a 52 week low of $68.70 and a 52 week high of $95.07. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.73 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.16. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%.The business had revenue of $491.14 million during the quarter, compared to analysts' expectations of $445.28 million. During the same period in the prior year, the firm posted $2.92 EPS. Piper Sandler Companies's quarterly revenue was up 24.9% compared to the same quarter last year. Sell-side analysts forecast that Piper Sandler Companies will post 4.51 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 18.52%.

About Piper Sandler Companies

Piper Sandler Companies NYSE: PIPR is an investment banking and financial services firm that provides advisory, capital markets, institutional sales and trading, research, and public finance services. The company serves corporations, private equity firms, institutional investors, government entities, and other public-sector organizations.

Its investment banking activities include mergers and acquisitions advice, equity and debt offerings, private placements, and strategic and financial advisory services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.