Strs Ohio Lowers Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Strs Ohio reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,400 shares of the financial services provider’s stock after selling 600 shares during the period. Strs Ohio’s holdings in Piper Sandler Companies were worth $1,119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PIPR. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Piper Sandler Companies by 16.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,517 shares of the financial services provider’s stock worth $511,000 after buying an additional 507 shares during the period. Park Avenue Securities LLC acquired a new position in Piper Sandler Companies during the 3rd quarter worth $379,000. Allspring Global Investments Holdings LLC increased its holdings in Piper Sandler Companies by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock worth $8,822,000 after purchasing an additional 615 shares during the period. Victory Capital Management Inc. raised its position in Piper Sandler Companies by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 70 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in Piper Sandler Companies in the 3rd quarter valued at about $1,264,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $195.60 on Wednesday. Piper Sandler Companies has a one year low of $120.97 and a one year high of $202.76. The company has a market cap of $3.47 billion, a PE ratio of 39.60 and a beta of 1.42. The business has a 50-day simple moving average of $194.14 and a 200-day simple moving average of $187.27.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $1.42. The firm had revenue of $457.39 million during the quarter, compared to the consensus estimate of $370.12 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.33 earnings per share. On average, sell-side analysts predict that Piper Sandler Companies will post 11.17 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, March 1st. Piper Sandler Companies’s dividend payout ratio (DPR) is 48.58%.

Insider Activity at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 6,662 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $185.03, for a total value of $1,232,669.86. Following the completion of the transaction, the chief executive officer now directly owns 36,454 shares of the company’s stock, valued at $6,745,083.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 in the company, valued at $2,315,340.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Chad R. Abraham sold 6,662 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $185.03, for a total value of $1,232,669.86. Following the completion of the sale, the chief executive officer now owns 36,454 shares of the company’s stock, valued at approximately $6,745,083.62. The disclosure for this sale can be found here. Insiders sold 53,524 shares of company stock valued at $9,838,711 over the last three months. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report 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.