Piper Sandler Companies (NYSE:PIPR) Position Trimmed by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its holdings in Piper Sandler Companies (NYSE:PIPR) by 1.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,468 shares of the financial services provider’s stock after selling 62 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Piper Sandler Companies were worth $956,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Piper Sandler Companies during the fourth quarter valued at $29,000. West Oak Capital LLC acquired a new position in Piper Sandler Companies during the 4th quarter valued at about $33,000. Cerity Partners LLC bought a new position in Piper Sandler Companies in the 4th quarter worth about $218,000. Parcion Private Wealth LLC acquired a new stake in shares of Piper Sandler Companies in the fourth quarter valued at approximately $240,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Piper Sandler Companies during the third quarter valued at approximately $201,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Up 0.3 %

Shares of NYSE:PIPR opened at $213.01 on Friday. The company has a 50 day moving average of $197.06 and a 200-day moving average of $192.28. The firm has a market cap of $3.77 billion, a P/E ratio of 36.23 and a beta of 1.40. Piper Sandler Companies has a twelve month low of $121.57 and a twelve month high of $214.94.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. The firm had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. During the same period last year, the company posted $2.35 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts forecast that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 annualized dividend and a dividend yield of 1.13%. Piper Sandler Companies’s dividend payout ratio (DPR) is 40.82%.

Insider Buying and Selling

In related news, General Counsel John W. Geelan sold 1,570 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the completion of the transaction, the general counsel now owns 16,854 shares in the company, valued at approximately $3,558,553.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,570 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $211.14, for a total transaction of $331,489.80. Following the transaction, the general counsel now directly owns 16,854 shares in the company, valued at approximately $3,558,553.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $190.72, for a total value of $914,502.40. Following the completion of the sale, the president now owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Insiders have sold 10,125 shares of company stock worth $1,942,059 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on PIPR. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th.

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.