New York State Teachers Retirement System Has $6.72 Million Stake in Piper Sandler Companies (NYSE:PIPR)

New York State Teachers Retirement System trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,149 shares of the financial services provider’s stock after selling 1,800 shares during the period. New York State Teachers Retirement System owned 0.15% of Piper Sandler Companies worth $6,724,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Piper Sandler Companies by 1.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,704 shares of the financial services provider’s stock valued at $1,660,000 after purchasing an additional 93 shares during the period. Smartleaf Asset Management LLC grew its position in Piper Sandler Companies by 336.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 242 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Piper Sandler Companies by 11.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,015 shares of the financial services provider’s stock valued at $499,000 after buying an additional 210 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Piper Sandler Companies by 11.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,742 shares of the financial services provider’s stock worth $2,908,000 after buying an additional 1,249 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after buying an additional 40 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

NYSE PIPR opened at $293.44 on Friday. The firm has a market capitalization of $5.21 billion, a PE ratio of 25.65 and a beta of 1.48. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $351.80. The company has a 50 day simple moving average of $260.34.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $1.24. The business had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. Piper Sandler Companies’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.79 EPS. On average, analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.65 per share. The ex-dividend date was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 22.73%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PIPR. The Goldman Sachs Group dropped their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

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.