Arizona State Retirement System Decreases Stake in Piper Sandler Companies (NYSE:PIPR)

Arizona State Retirement System reduced its position in Piper Sandler Companies (NYSE:PIPR) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,962 shares of the financial services provider’s stock after selling 89 shares during the period. Arizona State Retirement System’s holdings in Piper Sandler Companies were worth $868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC purchased a new position in Piper Sandler Companies in the 4th quarter valued at about $240,000. West Oak Capital LLC purchased a new position in Piper Sandler Companies in the 4th quarter valued at about $33,000. Vanguard Group Inc. boosted its position in Piper Sandler Companies by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock valued at $281,209,000 after buying an additional 9,030 shares during the last quarter. Deutsche Bank AG boosted its position in Piper Sandler Companies by 11.8% in the 3rd quarter. Deutsche Bank AG now owns 9,421 shares of the financial services provider’s stock valued at $1,369,000 after buying an additional 991 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Piper Sandler Companies by 29.4% in the 3rd quarter. Creative Planning now owns 3,241 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 737 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 0.8 %

PIPR opened at $185.58 on Wednesday. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 37.57 and a beta of 1.42. Piper Sandler Companies has a fifty-two week low of $120.97 and a fifty-two week high of $202.76. The company’s 50-day moving average price is $194.75 and its 200 day moving average price is $185.78.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, topping the consensus estimate of $2.61 by $1.42. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The firm had revenue of $457.39 million for the quarter, compared to analyst estimates of $370.12 million. During the same quarter in the prior year, the business earned $3.33 earnings per share. Piper Sandler Companies’s quarterly revenue was up 17.0% on a year-over-year basis. Research analysts anticipate that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.29%. Piper Sandler Companies’s payout ratio is currently 48.58%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent analyst reports. Northland Securities lowered shares of Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 19th. The Goldman Sachs Group upped their target price on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total value of $2,037,295.26. Following the sale, the chief executive officer now owns 24,116 shares in the company, valued at $4,345,220.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Chad R. Abraham sold 6,662 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $185.03, for a total value of $1,232,669.86. Following the completion of the transaction, the chief executive officer now directly owns 36,454 shares in the company, valued at $6,745,083.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chad R. Abraham sold 11,307 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the completion of the transaction, the chief executive officer now owns 24,116 shares of the company’s stock, valued at $4,345,220.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,524 shares of company stock worth $9,838,711. 3.30% of the stock is owned by company insiders.

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.