Piper Sandler Companies (NYSE:PIPR) Holdings Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,531 shares of the financial services provider's stock after selling 1,604 shares during the period. New York State Common Retirement Fund's holdings in Piper Sandler Companies were worth $2,113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PIPR. Quadrant Capital Group LLC boosted its position in shares of Piper Sandler Companies by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock valued at $226,000 after buying an additional 37 shares during the period. Parallel Advisors LLC raised its stake in shares of Piper Sandler Companies by 28.6% during the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 48 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Piper Sandler Companies by 1.2% during the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock valued at $1,255,000 after acquiring an additional 49 shares in the last quarter. M&T Bank Corp raised its stake in shares of Piper Sandler Companies by 6.6% during the first quarter. M&T Bank Corp now owns 874 shares of the financial services provider's stock valued at $217,000 after acquiring an additional 54 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Piper Sandler Companies by 4.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock valued at $418,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several recent analyst reports. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th. Wolfe Research upgraded shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 target price for the company in a report on Thursday, July 10th.

Piper Sandler Companies Trading Down 0.1%

PIPR traded down $0.46 during trading hours on Friday, reaching $313.55. 109,987 shares of the stock traded hands, compared to its average volume of 180,067. The business's fifty day moving average price is $275.92. The firm has a market cap of $5.57 billion, a P/E ratio of 27.41 and a beta of 1.48. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $2.85 by $1.24. The company had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $2.79 EPS. Analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.65 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 0.83%. Piper Sandler Companies's dividend payout ratio is presently 22.73%.

Piper Sandler Companies Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.