Strs Ohio Invests $1.24 Million in Piper Sandler Companies $PIPR

Key Points

• Strs Ohio acquired a new position in Piper Sandler Companies, purchasing 5,000 shares valued at approximately $1,238,000 during the first quarter of the year.
• Multiple hedge funds increased their stakes in Piper Sandler Companies, contributing to institutional investors owning 72.79% of the company's stock.
• Piper Sandler recently declared a quarterly dividend of $0.70, up from $0.65, reflecting a 0.8% dividend yield.

Strs Ohio bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,000 shares of the financial services provider's stock, valued at approximately $1,238,000.

Several other hedge funds also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its position in shares of Piper Sandler Companies by 46.6% during the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider's stock valued at $42,000 after buying an additional 54 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Piper Sandler Companies by 33.2% during the first quarter. Intech Investment Management LLC now owns 12,249 shares of the financial services provider's stock valued at $3,034,000 after buying an additional 3,056 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Piper Sandler Companies by 0.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the financial services provider's stock valued at $10,977,000 after buying an additional 177 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Piper Sandler Companies during the first quarter valued at approximately $247,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Piper Sandler Companies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the financial services provider's stock valued at $2,563,000 after buying an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

Insiders Place Their Bets

In related news, CEO Chad R. Abraham sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $319.33, for a total transaction of $3,193,300.00. Following the completion of the transaction, the chief executive officer directly owned 53,558 shares in the company, valued at $17,102,676.14. The trade was a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott C. Taylor sold 2,600 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $319.86, for a total value of $831,636.00. Following the transaction, the director owned 16,319 shares of the company's stock, valued at approximately $5,219,795.34. The trade was a 13.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,136 shares of company stock valued at $8,380,342 in the last ninety days. Corporate insiders own 2.70% of the company's stock.

Piper Sandler Companies Stock Down 0.8%

Shares of NYSE:PIPR traded down $3.07 during midday trading on Friday, reaching $366.33. 269,879 shares of the company traded hands, compared to its average volume of 127,163. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $374.77. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 30.91 and a beta of 1.45. The business's fifty day moving average price is $327.76.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.96. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The company had revenue of $405.39 million for the quarter, compared to analyst estimates of $349.40 million. During the same period in the previous year, the company posted $2.52 EPS. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $0.70 per share. The ex-dividend date was Friday, August 29th. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 0.8%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 23.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PIPR shares. Wolfe Research upgraded Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target on the stock in a report on Thursday, July 10th. Wall Street Zen lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Piper Sandler Companies currently has an average rating of "Hold" and a consensus price target of $312.50.

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.