Piper Sandler Companies (NYSE:PIPR) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in Piper Sandler Companies (NYSE:PIPR) by 53.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,981 shares of the financial services provider’s stock after acquiring an additional 3,146 shares during the period. Teacher Retirement System of Texas’ holdings in Piper Sandler Companies were worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in shares of Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 131 shares during the period. West Oak Capital LLC increased its holdings in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,300 shares during the period. Allworth Financial LP raised its position in Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after buying an additional 160 shares during the last quarter. GAMMA Investing LLC lifted its stake in Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

PIPR has been the subject of a number of research reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group reduced their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research report on Friday, March 14th.

Piper Sandler Companies Stock Performance

PIPR stock opened at $268.70 on Wednesday. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The firm’s fifty day moving average is $267.95 and its 200 day moving average is $291.67. The firm has a market cap of $4.76 billion, a PE ratio of 26.29 and a beta of 1.46.

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 analysts’ consensus estimates 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 quarter in the previous year, the firm posted $4.03 EPS. Research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 25.44%.

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.