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

Teacher Retirement System of Texas increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 177.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 24,909 shares of the financial services provider's stock after purchasing an additional 15,928 shares during the period. Teacher Retirement System of Texas owned approximately 0.14% of Piper Sandler Companies worth $6,169,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PIPR. Oppenheimer Asset Management Inc. grew its position in Piper Sandler Companies by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,704 shares of the financial services provider's stock worth $1,660,000 after buying an additional 93 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Piper Sandler Companies by 336.1% during 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 in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Piper Sandler Companies by 11.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,015 shares of the financial services provider's stock worth $499,000 after buying an additional 210 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Piper Sandler Companies by 11.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,742 shares of the financial services provider's stock worth $2,908,000 after buying an additional 1,249 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Piper Sandler Companies by 0.8% during the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock worth $1,541,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group decreased their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR traded down $4.86 during trading on Monday, reaching $288.58. The stock had a trading volume of 138,605 shares, compared to its average volume of 128,614. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $351.80. The firm has a 50-day simple moving average of $260.34. The company has a market cap of $5.13 billion, a PE ratio of 25.23 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data 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. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The firm had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. During the same quarter in the previous year, the company posted $2.79 EPS. Piper Sandler Companies's revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's payout ratio is 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.