Strs Ohio Buys New Position 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its position in Piper Sandler Companies by 131.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock worth $27,000 after purchasing an additional 62 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Piper Sandler Companies in the first quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Piper Sandler Companies by 495.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider's stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Piper Sandler Companies in the fourth quarter worth $45,000. Finally, Wealth Preservation Advisors LLC purchased a new position in Piper Sandler Companies in the first quarter worth $37,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PIPR shares. Wolfe Research raised Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price objective on the stock in a research 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 given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $312.50.

Insider Transactions at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 3,536 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $316.84, for a total value of $1,120,346.24. Following the transaction, the insider directly owned 132,910 shares in the company, valued at $42,111,204.40. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chad R. Abraham sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $319.33, for a total value of $3,193,300.00. Following the completion of the transaction, the chief executive officer owned 53,558 shares in the company, valued at approximately $17,102,676.14. This trade represents a 15.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,136 shares of company stock valued at $8,380,342. Corporate insiders own 2.70% of the company's stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $354.86 on Thursday. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $360.00. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 29.95 and a beta of 1.45. The stock has a 50 day moving average price of $325.13.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate 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 business had revenue of $405.39 million for the quarter, compared to the consensus estimate of $349.40 million. During the same period last year, the business posted $2.52 EPS. The company's revenue was up 13.4% compared to the same quarter last year. On average, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $0.70 dividend. This is an increase from Piper Sandler Companies's previous quarterly dividend of $0.65. The ex-dividend date was Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. Piper Sandler Companies's dividend payout ratio (DPR) is 23.63%.

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.

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