Public Employees Retirement System of Ohio Sells 1,271 Shares of Piper Sandler Companies (NYSE:PIPR)

Public Employees Retirement System of Ohio lowered its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,792 shares of the financial services provider's stock after selling 1,271 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.07% of Piper Sandler Companies worth $3,537,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. IFP Advisors Inc boosted its stake in Piper Sandler Companies by 2,183.3% during 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 in the last quarter. Lazard Asset Management LLC purchased a new position in Piper Sandler Companies in the fourth quarter worth about $51,000. Allworth Financial LP raised its holdings in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock worth $70,000 after buying an additional 160 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings 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 worth $94,000 after buying an additional 242 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in Piper Sandler Companies by 280.9% in the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock worth $102,000 after buying an additional 250 shares during the last quarter. Institutional investors own 72.79% of the company's stock.

Wall Street Analysts Forecast Growth

PIPR has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

Piper Sandler Companies Stock Down 0.8%

Shares of PIPR traded down $1.93 during mid-day trading on Wednesday, hitting $254.19. 125,994 shares of the company traded hands, compared to its average volume of 124,380. 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 $4.52 billion, a price-to-earnings ratio of 24.87 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The firm had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. During the same period in the previous year, the company earned $2.79 earnings per share. The firm's quarterly revenue was up 14.7% on a year-over-year basis. As a group, analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.65 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. Piper Sandler Companies's payout ratio is currently 22.73%.

Piper Sandler Companies Company 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.