Strs Ohio Has $1.12 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Strs Ohio reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,400 shares of the financial services provider’s stock after selling 600 shares during the period. Strs Ohio’s holdings in Piper Sandler Companies were worth $1,119,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PIPR. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Piper Sandler Companies by 16.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,517 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 507 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Piper Sandler Companies during the third quarter valued at approximately $379,000. Allspring Global Investments Holdings LLC raised 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 valued at $8,822,000 after purchasing an additional 615 shares in the last quarter. Victory Capital Management Inc. raised its position in Piper Sandler Companies by 0.9% during the third quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 70 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in Piper Sandler Companies during the third quarter valued at approximately $1,264,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $195.60 on Wednesday. The company has a fifty day moving average of $194.14 and a 200-day moving average of $187.27. The company has a market capitalization of $3.47 billion, a PE ratio of 39.60 and a beta of 1.42. 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 announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $1.42. The company had revenue of $457.39 million during 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 company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.33 earnings per share. On average, equities analysts forecast that Piper Sandler Companies will post 11.17 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.23%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 48.58%.

Wall Street Analyst Weigh In

Several research analysts have commented on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

Insider Activity at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 19,987 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the completion of the sale, the insider now directly owns 176,227 shares in the company, valued at $32,408,145.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Debbra L. Schoneman sold 5,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $184.13, for a total value of $920,650.00. Following the completion of the sale, the president now directly owns 48,083 shares in the company, valued at $8,853,522.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan J. Doyle sold 19,987 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $183.90, for a total value of $3,675,609.30. Following the completion of the sale, the insider now owns 176,227 shares of the company’s stock, valued at $32,408,145.30. The disclosure for this sale can be found here. Insiders sold 53,524 shares of company stock worth $9,838,711 over the last three months. Company insiders own 3.00% of the company’s stock.

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.