Texas Permanent School Fund Has $1.03 Million Stake in Piper Sandler Companies (NYSE:PIPR)

Texas Permanent School Fund trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR – Get Rating) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,864 shares of the company’s stock after selling 360 shares during the period. Texas Permanent School Fund owned 0.06% of Piper Sandler Companies worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PIPR. Louisiana State Employees Retirement System bought a new position in Piper Sandler Companies during the third quarter worth $691,000. Federated Hermes Inc. boosted its position in Piper Sandler Companies by 151.9% during the second quarter. Federated Hermes Inc. now owns 34,204 shares of the company’s stock worth $3,877,000 after purchasing an additional 20,625 shares during the period. Captrust Financial Advisors boosted its position in Piper Sandler Companies by 12.1% during the second quarter. Captrust Financial Advisors now owns 2,164 shares of the company’s stock worth $245,000 after purchasing an additional 234 shares during the period. Legal & General Group Plc boosted its position in Piper Sandler Companies by 2.6% during the second quarter. Legal & General Group Plc now owns 43,899 shares of the company’s stock worth $4,976,000 after purchasing an additional 1,112 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Piper Sandler Companies by 1.9% during the second quarter. Goldman Sachs Group Inc. now owns 78,575 shares of the company’s stock worth $8,908,000 after purchasing an additional 1,484 shares during the period. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Up 0.2 %

Shares of Piper Sandler Companies stock opened at $142.80 on Friday. The firm has a 50-day moving average of $139.24 and a 200-day moving average of $124.33. The stock has a market cap of $2.55 billion, a PE ratio of 13.23 and a beta of 1.42. Piper Sandler Companies has a 52-week low of $102.60 and a 52-week high of $171.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 1.31.

Piper Sandler Companies (NYSE:PIPR – Get Rating) last announced its earnings results on Friday, October 28th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.24. Piper Sandler Companies had a net margin of 11.03% and a return on equity of 23.87%. The company had revenue of $331.75 million during the quarter, compared to analysts’ expectations of $321.60 million. During the same quarter in the previous year, the business posted $4.55 earnings per share. Piper Sandler Companies’s quarterly revenue was down 25.5% on a year-over-year basis. As a group, sell-side analysts forecast that Piper Sandler Companies will post 10.13 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Wednesday, November 23rd were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, November 22nd. This represents a $2.40 annualized dividend and a yield of 1.68%. Piper Sandler Companies’s dividend payout ratio is 22.24%.

Wall Street Analyst Weigh In

A number of research firms have commented on PIPR. Northland Securities lifted their price objective on shares of Piper Sandler Companies to $135.00 in a research report on Tuesday, November 1st. JMP Securities reduced their price objective on shares of Piper Sandler Companies from $178.00 to $160.00 and set a “market outperform” rating for the company in a research report on Tuesday. Finally, StockNews.com began coverage on shares of Piper Sandler Companies in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.

Insider Buying and Selling

In related news, insider Jonathan J. Doyle sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $133.19, for a total transaction of $665,950.00. Following the completion of the sale, the insider now owns 247,870 shares of the company’s stock, valued at $33,013,805.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.32% of the stock is currently owned by company insiders.

Piper Sandler Companies Profile

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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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.