Piper Sandler Companies (NYSE:PIPR) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,468 shares of the financial services provider’s stock after selling 62 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Piper Sandler Companies were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PIPR. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Piper Sandler Companies by 16.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,517 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 507 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Piper Sandler Companies during the third quarter valued at approximately $379,000. Allspring Global Investments Holdings LLC boosted its position in Piper Sandler Companies by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock worth $8,822,000 after acquiring an additional 615 shares during the last quarter. Victory Capital Management Inc. grew its stake in Piper Sandler Companies by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock worth $1,130,000 after acquiring an additional 70 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in Piper Sandler Companies in the 3rd quarter valued at $1,264,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Activity

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 3,555 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $184.84, for a total value of $657,106.20. Following the transaction, the president now owns 11,518 shares in the company, valued at approximately $2,128,987.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Debbra L. Schoneman sold 205 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total value of $38,960.25. Following the completion of the sale, the president now directly owns 16,935 shares in the company, valued at approximately $3,218,496.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Debbra L. Schoneman sold 3,555 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $184.84, for a total transaction of $657,106.20. Following the sale, the president now directly owns 11,518 shares of the company’s stock, valued at approximately $2,128,987.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,125 shares of company stock worth $1,942,059. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $213.01 on Friday. The firm has a market capitalization of $3.77 billion, a PE ratio of 36.23 and a beta of 1.40. Piper Sandler Companies has a 12 month low of $121.57 and a 12 month high of $214.94. The business has a 50-day moving average of $197.06 and a two-hundred day moving average of $192.28.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The firm had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. During the same quarter last year, the firm posted $2.35 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, research analysts anticipate that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.13%. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

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.