State of New Jersey Common Pension Fund D Trims Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D lowered its stake in Piper Sandler Companies (NYSE:PIPR) by 18.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,294 shares of the financial services provider’s stock after selling 1,673 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Piper Sandler Companies were worth $2,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares during the period. nVerses Capital LLC lifted its position in shares of Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares in the last quarter. USA Financial Formulas bought a new position in shares of Piper Sandler Companies in the third quarter worth about $77,000. FSC Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 97 shares in the last quarter. Finally, CWM LLC raised its stake in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The trade was a 8.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several research analyst reports. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $336.11 on Friday. The stock has a 50 day moving average price of $306.39 and a 200-day moving average price of $284.28. Piper Sandler Companies has a one year low of $150.30 and a one year high of $347.15. The company has a market capitalization of $5.98 billion, a P/E ratio of 35.91 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, equities analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

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.