New York State Teachers Retirement System cut its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 0.15% of Piper Sandler Companies worth $6,724,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its stake in shares of Piper Sandler Companies by 1.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,704 shares of the financial services provider's stock valued at $1,660,000 after acquiring an additional 93 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 242 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Piper Sandler Companies by 11.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,015 shares of the financial services provider's stock valued at $499,000 after acquiring an additional 210 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Piper Sandler Companies by 11.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,742 shares of the financial services provider's stock worth $2,908,000 after buying an additional 1,249 shares during the period. Finally, Arizona State Retirement System increased its stake in Piper Sandler Companies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock worth $1,541,000 after buying an additional 40 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.
Piper Sandler Companies Stock Up 0.2%
Shares of NYSE:PIPR traded up $0.47 during trading hours on Friday, reaching $293.44. The stock had a trading volume of 91,181 shares, compared to its average volume of 128,574. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $351.80. The business's 50 day moving average is $260.34. The stock has a market cap of $5.21 billion, a PE ratio of 25.65 and a beta of 1.48.
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 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The company had revenue of $357.27 million for the quarter, compared to the consensus estimate of $366.99 million. During the same period in the prior year, the firm posted $2.79 EPS. The company's quarterly revenue was up 14.7% 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's dividend payout ratio is presently 22.73%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on PIPR shares. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th. The Goldman Sachs Group cut their target price on shares of 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.
View Our Latest Analysis on PIPR
About Piper Sandler Companies
(
Free Report)
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.
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