Raymond James & Associates Sells 176 Shares of Piper Sandler Companies (NYSE:PIPR)

Raymond James & Associates decreased its holdings in shares of Piper Sandler Companies (NYSE:PIPR – Get Rating) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,247 shares of the company’s stock after selling 176 shares during the period. Raymond James & Associates’ holdings in Piper Sandler Companies were worth $2,959,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in Piper Sandler Companies by 2.0% during the second quarter. Arizona State Retirement System now owns 4,928 shares of the company’s stock worth $559,000 after purchasing an additional 95 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Piper Sandler Companies by 0.3% during the second quarter. New York State Teachers Retirement System now owns 35,202 shares of the company’s stock worth $3,990,000 after purchasing an additional 100 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Piper Sandler Companies by 2.0% during the second quarter. Maryland State Retirement & Pension System now owns 5,767 shares of the company’s stock worth $654,000 after purchasing an additional 113 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Piper Sandler Companies by 1.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,980 shares of the company’s stock worth $804,000 after purchasing an additional 126 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Piper Sandler Companies by 5.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,926 shares of the company’s stock worth $383,000 after purchasing an additional 148 shares during the last quarter. Institutional investors own 64.00% of the company’s stock.

Insider Activity at Piper Sandler Companies

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

Piper Sandler Companies Stock Up 1.9 %

Shares of NYSE:PIPR opened at $139.21 on Friday. Piper Sandler Companies has a 1 year low of $102.60 and a 1 year high of $168.65. The company has a market cap of $2.48 billion, a PE ratio of 12.91 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.31 and a quick ratio of 0.70. The stock’s 50-day moving average is $139.46 and its 200 day moving average is $125.07.

Piper Sandler Companies (NYSE:PIPR – Get Rating) last announced its quarterly 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 return on equity of 23.87% and a net margin of 11.03%. The company had revenue of $331.75 million for the quarter, compared to the consensus estimate of $321.60 million. During the same quarter in the previous year, the business earned $4.55 EPS. Piper Sandler Companies’s revenue was down 25.5% compared to the same quarter last year. Sell-side analysts anticipate that Piper Sandler Companies will post 10.13 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Wednesday, November 23rd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.72%. Piper Sandler Companies’s dividend payout ratio is presently 22.24%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PIPR. StockNews.com initiated coverage on Piper Sandler Companies in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Northland Securities boosted their target price on Piper Sandler Companies to $135.00 in a research note on Tuesday, November 1st. Finally, JMP Securities lowered their target price on Piper Sandler Companies from $178.00 to $160.00 and set a “market outperform” rating for the company in a research note on Tuesday, January 10th.

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.