Piper Sandler Companies (NYSE:PIPR) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,792 shares of the financial services provider's stock after selling 1,271 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.07% of Piper Sandler Companies worth $3,537,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PIPR. Barclays PLC raised its holdings in Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock worth $9,174,000 after purchasing an additional 24,388 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after buying an additional 242 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after acquiring an additional 131 shares during the period. Arizona State Retirement System grew its position 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 purchasing an additional 40 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Piper Sandler Companies during the fourth quarter valued at approximately $8,097,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR traded down $0.58 during mid-day trading on Monday, reaching $250.87. 101,418 shares of the company were exchanged, compared to its average volume of 123,936. Piper Sandler Companies has a 1 year low of $201.97 and a 1 year high of $351.80. The stock has a market capitalization of $4.46 billion, a P/E ratio of 24.55 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results 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 firm had revenue of $357.27 million for the quarter, compared to the consensus estimate of $366.99 million. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.79 EPS. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.65 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.04%. Piper Sandler Companies's dividend payout ratio (DPR) is 22.73%.

Analyst Ratings Changes

Several research analysts have 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 price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research report on Friday, March 14th.

About Piper Sandler Companies

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.