New York State Teachers Retirement System Has $6.72 Million Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

New York State Teachers Retirement System decreased its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,149 shares of the financial services provider's stock after selling 1,800 shares during the period. New York State Teachers Retirement System owned about 0.15% of Piper Sandler Companies worth $6,724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PIPR. Vanguard Group Inc. increased its stake in shares of Piper Sandler Companies by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock worth $618,974,000 after purchasing an additional 31,400 shares during the period. Invesco Ltd. increased its stake in shares of Piper Sandler Companies by 17.2% during the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock worth $209,312,000 after purchasing an additional 102,426 shares during the period. Alliancebernstein L.P. increased its stake in shares of Piper Sandler Companies by 2.3% during the fourth quarter. Alliancebernstein L.P. now owns 360,224 shares of the financial services provider's stock worth $108,049,000 after purchasing an additional 8,066 shares during the period. Norges Bank bought a new position in shares of Piper Sandler Companies during the fourth quarter worth approximately $68,696,000. Finally, Northern Trust Corp increased its stake in shares of Piper Sandler Companies by 9.4% during the fourth quarter. Northern Trust Corp now owns 200,005 shares of the financial services provider's stock worth $59,991,000 after purchasing an additional 17,120 shares during the period. Institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

PIPR has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Price Performance

NYSE:PIPR traded up $4.33 during trading hours on Wednesday, reaching $289.18. 103,280 shares of the company were exchanged, compared to its average volume of 128,678. The firm has a market capitalization of $5.14 billion, a P/E ratio of 25.28 and a beta of 1.48. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $351.80. The firm has a 50 day moving average of $263.13.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The business had revenue of $357.27 million for the quarter, compared to the consensus estimate of $366.99 million. During the same quarter in the prior year, the business posted $2.79 earnings per share. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's dividend payout ratio is currently 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.