Piper Sandler Companies $PIPR Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in Piper Sandler Companies (NYSE:PIPR) by 265.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 32,640 shares of the company’s stock after buying an additional 23,709 shares during the quarter. New York State Common Retirement Fund owned approximately 0.18% of Piper Sandler Companies worth $11,326,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PIPR. Norges Bank bought a new position in Piper Sandler Companies in the second quarter worth about $59,820,000. American Century Companies Inc. raised its position in shares of Piper Sandler Companies by 1,155.7% during the 2nd quarter. American Century Companies Inc. now owns 200,149 shares of the company’s stock worth $55,630,000 after purchasing an additional 184,210 shares during the period. Franklin Resources Inc. bought a new stake in shares of Piper Sandler Companies in the 2nd quarter worth approximately $51,021,000. Greenwich Wealth Management LLC boosted its position in Piper Sandler Companies by 415.1% during the 2nd quarter. Greenwich Wealth Management LLC now owns 104,200 shares of the company’s stock valued at $28,961,000 after purchasing an additional 83,971 shares during the period. Finally, Invesco Ltd. boosted its position in Piper Sandler Companies by 9.8% during the 2nd quarter. Invesco Ltd. now owns 694,312 shares of the company’s stock valued at $192,977,000 after purchasing an additional 61,808 shares during the period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 3.2%

PIPR stock opened at $334.94 on Wednesday. The company has a 50-day simple moving average of $350.09 and a 200 day simple moving average of $338.18. The company has a market capitalization of $5.93 billion, a P/E ratio of 25.24, a PEG ratio of 1.11 and a beta of 1.53. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $380.26.

Insider Buying and Selling at Piper Sandler Companies

In related news, CFO Katherine Patricia Clune sold 1,367 shares of Piper Sandler Companies stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $324.69, for a total transaction of $443,851.23. Following the transaction, the chief financial officer directly owned 10,425 shares of the company’s stock, valued at $3,384,893.25. The trade was a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad R. Abraham sold 4,400 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $337.60, for a total transaction of $1,485,440.00. Following the completion of the sale, the chief executive officer owned 53,558 shares in the company, valued at approximately $18,081,180.80. This trade represents a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,767 shares of company stock worth $2,937,921. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PIPR. Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Bank of America began coverage on shares of Piper Sandler Companies in a research report on Monday, January 26th. They set an “underperform” rating and a $385.00 price target for the company. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Wall Street Zen downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $389.67.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.