Illinois Municipal Retirement Fund Has $2.68 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Illinois Municipal Retirement Fund increased its stake in Piper Sandler Companies (NYSE:PIPR) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,935 shares of the financial services provider’s stock after purchasing an additional 320 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Piper Sandler Companies were worth $2,680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in Piper Sandler Companies by 2.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 41 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 56 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Piper Sandler Companies by 2.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 58 shares during the period. GAMMA Investing LLC lifted its stake in Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in Piper Sandler Companies by 4.3% during the third quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 74 shares during the period. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $281.29 on Friday. The firm’s 50-day simple moving average is $303.87 and its 200 day simple moving average is $310.30. The firm has a market cap of $5.00 billion, a P/E ratio of 27.52 and a beta of 1.46. Piper Sandler Companies has a 52 week low of $183.57 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period in the prior year, the business earned $4.03 EPS. As a group, equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analysts Set New Price Targets

PIPR has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies 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.