Teacher Retirement System of Texas Has $6.17 Million Stake in Piper Sandler Companies (NYSE:PIPR)

Teacher Retirement System of Texas boosted its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 177.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,909 shares of the financial services provider's stock after buying an additional 15,928 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.14% of Piper Sandler Companies worth $6,169,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PIPR. Quadrant Capital Group LLC lifted its position in Piper Sandler Companies by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 37 shares during the period. Arizona State Retirement System lifted its stake in Piper Sandler Companies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock valued at $1,541,000 after buying an additional 40 shares during the period. Parallel Advisors LLC lifted its stake in Piper Sandler Companies by 28.6% in the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock valued at $53,000 after buying an additional 48 shares during the period. Lido Advisors LLC lifted its stake in Piper Sandler Companies by 1.2% in the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock valued at $1,255,000 after buying an additional 49 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock valued at $418,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 72.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PIPR. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group lowered their price objective 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. Finally, Wolfe Research upgraded shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price objective on the stock in a report on Thursday.

Piper Sandler Companies Stock Up 4.4%

Shares of NYSE:PIPR traded up $12.77 on Thursday, reaching $302.55. 288,908 shares of the company's stock were exchanged, compared to its average volume of 129,316. The firm has a market cap of $5.38 billion, a P/E ratio of 26.45 and a beta of 1.48. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80. The company's fifty day moving average price is $263.13.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $1.24. The company had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. Piper Sandler Companies's quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 EPS. Equities analysts predict 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 declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.65 per share. The ex-dividend date was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. Piper Sandler Companies's dividend payout ratio is 22.73%.

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.