Public Sector Pension Investment Board trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,145 shares of the company’s stock after selling 1,405 shares during the period. Public Sector Pension Investment Board’s holdings in Piper Sandler Companies were worth $4,035,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PIPR. Brinker Capital Investments LLC increased its stake in Piper Sandler Companies by 148.1% in the 2nd quarter. Brinker Capital Investments LLC now owns 24,523 shares of the company’s stock worth $3,177,000 after purchasing an additional 14,639 shares during the period. Shell Asset Management Co. increased its stake in Piper Sandler Companies by 5.7% in the 2nd quarter. Shell Asset Management Co. now owns 5,181 shares of the company’s stock worth $671,000 after purchasing an additional 280 shares during the period. Citadel Advisors LLC increased its stake in Piper Sandler Companies by 121.1% in the 1st quarter. Citadel Advisors LLC now owns 29,791 shares of the company’s stock worth $3,267,000 after purchasing an additional 16,316 shares during the period. Principal Financial Group Inc. increased its stake in Piper Sandler Companies by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 371,261 shares of the company’s stock worth $40,709,000 after purchasing an additional 16,174 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in Piper Sandler Companies by 2.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 491,548 shares of the company’s stock worth $53,898,000 after purchasing an additional 10,750 shares during the period. 64.32% of the stock is currently owned by institutional investors.
PIPR has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Piper Sandler Companies in a research note on Tuesday, September 21st. They set a “buy” rating and a $168.00 target price on the stock. JMP Securities boosted their target price on Piper Sandler Companies from $138.00 to $172.00 in a research note on Monday, August 2nd. Zacks Investment Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 30th. Finally, Northland Securities reissued a “buy” rating and set a $161.00 target price on shares of Piper Sandler Companies in a research note on Thursday, September 16th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Piper Sandler Companies has an average rating of “Buy” and a consensus price target of $158.00.
Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Thursday, July 29th. The company reported $5.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $1.92. Piper Sandler Companies had a return on equity of 30.30% and a net margin of 10.47%. The company had revenue of $511.34 million for the quarter, compared to analyst estimates of $380.04 million. On average, research analysts anticipate that Piper Sandler Companies will post 17.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 27th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, August 26th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.45. This represents a $2.20 annualized dividend and a dividend yield of 1.43%. Piper Sandler Companies’s payout ratio is currently 21.96%.
In other Piper Sandler Companies news, CEO Chad R. Abraham sold 963 shares of the business’s stock in a transaction on Monday, August 9th. The stock was sold at an average price of $138.52, for a total value of $133,394.76. Following the sale, the chief executive officer now directly owns 76,153 shares of the company’s stock, valued at $10,548,713.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan J. Doyle sold 4,496 shares of the business’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $143.33, for a total value of $644,411.68. The disclosure for this sale can be found here. Insiders have sold 35,348 shares of company stock worth $4,792,144 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
About Piper Sandler Companies
Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.
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