Piper Sandler Companies (NYSE:PIPR) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its position in shares of Piper Sandler Companies (NYSE:PIPR) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,962 shares of the financial services provider’s stock after selling 89 shares during the quarter. Arizona State Retirement System’s holdings in Piper Sandler Companies were worth $868,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Piper Sandler Companies by 328.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 174 shares during the last quarter. West Oak Capital LLC acquired a new stake in shares of Piper Sandler Companies in the fourth quarter valued at approximately $33,000. Belpointe Asset Management LLC increased its holdings in shares of Piper Sandler Companies by 67.0% in the first quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 138 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Piper Sandler Companies by 706.0% in the second quarter. Stephens Inc. AR now owns 403 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling

In other news, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the completion of the transaction, the chief executive officer now directly owns 24,116 shares in the company, valued at $4,345,220.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the completion of the transaction, the chief executive officer now directly owns 24,116 shares in the company, valued at $4,345,220.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Chad R. Abraham sold 6,662 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 36,454 shares of the company’s stock, valued at $6,745,083.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,524 shares of company stock worth $9,838,711. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PIPR. Northland Securities cut Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 19th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. The Goldman Sachs Group increased their price target on Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $185.58 on Wednesday. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 37.57 and a beta of 1.42. Piper Sandler Companies has a fifty-two week low of $120.97 and a fifty-two week high of $202.76. The stock has a 50 day moving average of $194.75 and a 200 day moving average of $185.78.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, topping the consensus estimate of $2.61 by $1.42. The company had revenue of $457.39 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.33 earnings per share. Analysts forecast that Piper Sandler Companies will post 11.17 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.29%. Piper Sandler Companies’s payout ratio is 48.58%.

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.