Arizona State Retirement System Sells 89 Shares of Piper Sandler Companies (NYSE:PIPR)

Arizona State Retirement System reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 1.8% in the fourth quarter, Holdings Channel reports. The firm owned 4,962 shares of the financial services provider’s stock after selling 89 shares during the quarter. 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 have also bought and sold shares of the company. Parcion Private Wealth LLC bought a new stake in Piper Sandler Companies during the 4th quarter valued at about $240,000. West Oak Capital LLC bought a new stake in Piper Sandler Companies during the 4th quarter valued at about $33,000. Vanguard Group Inc. increased its stake in Piper Sandler Companies by 0.5% during 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 purchasing an additional 9,030 shares in the last quarter. Deutsche Bank AG increased its stake in Piper Sandler Companies by 11.8% during the 3rd quarter. Deutsche Bank AG now owns 9,421 shares of the financial services provider’s stock valued at $1,369,000 after purchasing an additional 991 shares in the last quarter. Finally, Creative Planning increased its stake in Piper Sandler Companies by 29.4% during 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 currently owned by institutional investors.

Piper Sandler Companies Stock Down 0.8 %

Shares of NYSE PIPR opened at $185.58 on Wednesday. The company has a market cap of $3.28 billion, a PE ratio of 37.57 and a beta of 1.42. The firm’s 50-day moving average price is $194.75 and its 200-day moving average price is $185.78. Piper Sandler Companies has a 52-week low of $120.97 and a 52-week high of $202.76.

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

Piper Sandler Companies Dividend Announcement

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

Insider Buying and Selling

In related news, President Debbra L. Schoneman sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $184.13, for a total value of $920,650.00. Following the transaction, the president now owns 48,083 shares of the company’s stock, valued at $8,853,522.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $184.13, for a total transaction of $920,650.00. Following the transaction, the president now owns 48,083 shares of the company’s stock, valued at $8,853,522.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan J. Doyle sold 19,987 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $183.90, for a total transaction of $3,675,609.30. Following the transaction, the insider now directly owns 176,227 shares in the company, valued at approximately $32,408,145.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,524 shares of company stock valued at $9,838,711. 3.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Northland Securities downgraded shares of Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 19th.

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.